Strotz Meets Allais: Diminishing Impatience and the Certainty Effect
论证递减的不耐烦源于确定现在与风险未来的区分，推导出未来不确定时偏好时间不一致的简单函数表示，并用实验证据支持该理论，揭示了递减不耐烦与风险选择中行为规律之间的紧密联系。
Decision makers tend to exhibit a higher degree of impatience when considering a delay to an immediate reward than when contemplating an identical delay to an equal future reward. This work argues that diminishing impatience originates from the distinction between the certain present and the risky future. A simple functional representation of preferences, exhibiting time inconsistency when the future is uncertain, is derived. Experimental evidence, which is inconsistent with other formulations that account for diminishing impatience, supports the proposed approach. The new theory uncovers a tight relation between diminishing impatience and well-known behavioral regularities in choice under risk and uncertainty.