2024/07/02 by Mark Whitmeyer, Whitmeyer, Mark
Social Sciences · #Globalization and political ideologies
paper · pdf · doi:10.48550/arxiv.2407.02323
We begin by formulating and characterizing a dominance criterion for prize sequences: x dominates y if any impatient agent prefers x to y. With this in hand, we define a notion of comparative patience. Alice is more patient than Bob if Alice's normalized discounted utility gain by going from any y to any dominating x is less than Bob's discounted utility gain from such an improvement. We provide a full characterization of this relation in terms of the agents' discount rules.