Assume that Robinson Crusoe is willing to trade 0.895 potatoes tomorrow for 1 potato today. What is
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Assume that Robinson Crusoe is willing to trade 0.895 potatoes tomorrow for 1 potato today. What is the implied intertemporal preference (discount rate)? If the natives on the next island are willing to trade 0.923 potatoes tomorrow for a potato today, will Robinson Crusoe be a borrower or a lender?
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