@article{Weikard:99006,
      recid = {99006},
      author = {Weikard, Hans-Peter},
      title = {Zeitpräferenz und Zeitkonsistenz: Zur Rationalität  sequenzieller Entscheidungen},
      journal = {German Journal of Agricultural Economics},
      address = {2001},
      number = {670-2016-45589},
      pages = {8},
      year = {2001},
      abstract = {The paper discusses the problem of discounting, time  preference, and time consistent decision making. While a  constant pure rate of time preference leads to consistent  consumption plans, other discounting schemes – like  hyperbolic discounting – do not. Using a so-called money  pump argument, time inconsistencies can be shown to be  irrational. The paper also explores the use of a hedonic  utility concept to explain sequential choice behaviour.},
      url = {http://ageconsearch.umn.edu/record/99006},
      doi = {https://doi.org/10.22004/ag.econ.99006},
}