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Classification of Economic Impatience: Situational vs. Intrinsic
Although the preference for smoothing consumption is a universal trait, individuals vary in their degree of impatience. This variation in the preference for present over future consumption is categorized into two distinct types. Situational impatience arises from an individual's current circumstances, such as having low present resources but high future expectations. In contrast, intrinsic impatience reflects an inherent personal trait to prefer consuming now rather than later, even if consumption levels are already balanced.
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CORE Econ
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.9 Lenders and borrowers and differences in wealth - The Economy 2.0 Microeconomics @ CORE Econ
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Classification of Economic Impatience: Situational vs. Intrinsic
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