Hyperbolic discounting is insane because it’s dynamically inconsistent (the way humans do it; you could have a dynamically consistent hyperbolic discount rate from a non-indexically-defined zero time, but that’s not what’s usually meant), not because it’s discounting.
Hyperbolic discounting is insane because it’s dynamically inconsistent (the way humans do it; you could have a dynamically consistent hyperbolic discount rate from a non-indexically-defined zero time, but that’s not what’s usually meant), not because it’s discounting.