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John_Maxwell_IV comments on Sapir-Whorf , Savings, and Discount Rates [Link] - Less Wrong Discussion

1 Post author: Nic_Smith 04 March 2012 08:03AM

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Comment author: John_Maxwell_IV 04 March 2012 11:10:01PM 3 points [-]

Lowenstein (1988) finds a temporal reference-point effect: people demand much more compensation to delay receiving a good by one year, (from today to a year from now), than they are willing to pay to move up consumption of that same good (from a year from now to today).

This doesn't seem that different from standard endowment effect findings.

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