13  Rubinstein (2003)

Discussion paper: Rubinstein (2003) “"Economics and psychology"? The case of hyperbolic discounting”, International Economic Review

Supplementary papers:

• Laibson (1997) “Golden eggs and hyperbolic discounting”, Quarterly Journal of Economics
• O’Donoghue and Rabin (1999) “Doing it now or later”, American Economic Review

Much behavioural economic theory is constructed to explain anomalies relating to expected utility theory and exponential discounting. Rubinstein shows that behavioural economics models have their own anomalies.

Laibson, D. (1997). Golden eggs and hyperbolic discounting. Quarterly Journal of Economics, 112(2), 443–477. https://doi.org/10.1162/003355397555253

O’Donoghue, T., and Rabin, M. (1999). Doing it now or later. American Economic Review, 89(1), 103–124. https://doi.org/10.1257/aer.89.1.103

Rubinstein, A. (2003). “Economics and psychology”? The case of hyperbolic discounting. International Economic Review, 44(4), 1207–1216. https://doi.org/10.1111/1468-2354.t01-1-00106