| 单词 | time preference |
| 释义 | time preference The tendency to prefer goods and services now to the same goods and services at a future date. This may be due to three causes: uncertainty, decreasing marginal utility, and impatience. Goods now may be preferred to goods in 2020 because of uncertainty as to whether one will be alive to enjoy them; because one expects one's total income to be higher than at present so that the expected addition to utility from an equal addition to consumption is less; or through pure time preference or impatience. These are in practice almost impossible to distinguish. |
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