Abstract
In behavioral finance, collecting data on amounts and delays has helped research time preference. But, could other data support new conclusions about the discount dynamics? This paper considers only the physical aspects necessary to choose between payments sooner or later. So it is verified that personal wealth is one of the elements that influence the discount shape. Specifically, when the impact of rewards on wealth is low, the dynamics can be simplified due to the low contrast between time averages, allowing different discount functions to be generalized by the q-exponential function. Therefore, the wealth (or income) can be a relevant factor in individuals’ behavior because it influences intertemporal choice’s dynamical aspects.
Published Version
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