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Unformatted text preview: For example, a $1 in your hand right now is worth more than the promise (without risk) of a $1 in your hand a year from now. This is true even with zero inflation. People generally prefer to have something now, rather than wait and have it later. What would I have to pay you to wait and have something later rather than now? 10...
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.
- Fall '10