The Centre for Philosophy of Natural and Social Science (Cpnss), London School of Economics (2008)

Authors
Conrad Heilmann
Erasmus University Rotterdam
Abstract
In economics, the concept of time discounting introduces weights on future goods to make these less valuable. Yet, both the conceptual motivation for time discounting and its specic functional form remain contested. To address these problems, this paper provides a measurement-theoretic framework of representation for time discounting. The representation theorem characterises time discounting factors by representations of time dierences. This general result can be interpreted with existing theories of time discounting to clarify their formal and conceptual assumptions. It also provides a conceptually neutral framework for comparing the descriptive and normative merits of those theories.
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Representation and Invariance of Scientific Structures.Patrick Suppes - 2002 - CSLI Publications (distributed by Chicago University Press).
Picoeconomics.George Ainslie - 1992 - Behavior and Philosophy 20:89-94.

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