The Evolutionary Basis of Time Preference: Intergenerational Transfers and Sex
从进化角度研究代际转移中的时间贴现，发现生殖价值是父母优化资源分配的效用标准，并比较有性生殖与无性生殖对时间偏好的影响。
We consider the evolutionary basis of time discounting with intergenerational transfers. We show that the notion of “reproductive value” from biology provides the utility criterion for a parent to optimize the allocation of resources between transfers to offspring and to promote her own survival. This optimization has a natural dynamic programming formulation. We show that younger individuals may well be “too impatient,” but older individuals “too patient” in accordance with observations. We compare the allocation of resources under sexual reproduction to that where there is asexual reproduction. Sex distorts time discounting; under plausible conditions, sex increases patience.