We have good reasons to expect biological selection to create high discount rates. But why hasn't cultural selection made orgs (nations, religions, firms, etc) with lower discount rates? Why doesn't patience help orgs win wars, business competition, etc? https://www.aeaweb.org/articles?id=10.1257/mic.4.4.172 …
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nations: electoral pressure isn't quarterly but relatively high discount rate compared to alternatives, no? religions: prosperity gospel is beating a heavenly afterlife
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