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Pastimes : Austrian Economics, a lens on everyday reality

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To: Wildstar who wrote (151)	1/8/2003 1:46:35 PM
From: Don Lloyd	of 445

Wildstar, Do you have an "everyday reality" example of the Austrian view of time-preference, and how it differs from the neo-classical view? Sorry, no. Neither. I'll keep my eyes open for something and let you know. Off the top of my head, the preference would have to come down to a present state of subjective satisfaction for having provided for future consumption, not an objective discount rate applied to a future cash balance. However, I am perfectly content talking about discounted present value as it is a nice, clear concept, even if there is no mathematical precision really there. Regards, Don

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