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Consider a naive quasi-hyperbolic discounter with daily =0.75 and =1. He must undertake a task at some point in the next 3 days. The cost
Consider a naive quasi-hyperbolic discounter with daily β=0.75 and δ=1. He must undertake a task at some point in the next 3 days. The cost is -1 if he does it right away, -1.25 if on the second day, and -1.5 if he waits till the third day. When will the task be completed? What if the person is sophisticated about his present bias?
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