The Intertemporal choice reference article from the English Wikipedia on 24-Apr-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

Intertemporal choice

Intertemporal choice is essentially the question of whether you consume something now or in the future.

The reason why it is important in economics is that the Austrian School explain an interest rate as the price borrowers pay to use money now rather than use it later, in other words the price for their intertemporal choice.

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