Encyclopedia > Time preference

Article Content

Time preference

Time preference is the economist's assumption that a consumer will place a premium on enjoyment nearer in time over more remote enjoyment.

This is particularly important in microeconomics. The Austrian School see time as the root of uncertainty within economics.

A high time preference indicates that a person puts a high premium on satisfying wants in the near future.

The time preference theory of interest is an attempt to explain interest through the demand for accelerated satisfaction.

All Wikipedia text is available under the terms of the GNU Free Documentation License

Search Encyclopedia

Search over one million articles, find something about almost anything!

Featured Article

List of rare diseases starting with A

... type II[?] Athabaskan brain stem dysgenesis[?] Athetosis[?] Atopic Dermatitis[?] Atresia of small intestine[?] Atrial myxoma, familial[?] Atrial septal ...