11. Because this is an intertemporal problem this means an equalization of rates rather than levels. 12. Intertemporal choice is defined as " decisions with consequences that play out over time ".13. The Arrow Debreu model of intertemporal equilibrium contains forward markets for all goods at all dates. 14. The Keynesian model therefore failed to explain the consumption phenomenon and thus emerged the theory of intertemporal choice. 15. Then the intertemporal elasticity of substitution is given by \ frac { 1 } { \ theta }. 16. However, it can emerge from an intertemporal mean-variance model with negative serial correlation of returns. 17. Hicks was influenced directly by Hayek's notion of intertemporal coordination and paralleled by earlier work by Lindhal. 18. People who score high are less vulnerable to various biases in thinking including prospect theory and irrational intertemporal choices. 19. Marshallian Cross Diagrams " and Chapter 55, " Intertemporal utility maximization the Fisher diagram ". 20. Irving Fisher developed the theory of intertemporal choice in his book " Theory of interest " ( 1930 ).
