Time inconsistent preferences means that $\delta

Name: Time inconsistent preferences means that $\delta<1$.
Brand: Quizplus
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Question

Time inconsistent preferences means that $\delta<1$.

Quizplus · Accepted Answer

The parameter $\delta$ is not directly related to time inconsistent preferences, it simply tells us how much the individual prefers consumption today versus consumption tomorrow. On the other hand, time inconsistent preferences concerns the desire to want to change your choices once you arrive in a different time period.

Time Inconsistent Preferences Means That δ<1\delta<1δ<1

Time Inconsistent Preferences Means That $\delta<1$