“The pure rate of time preference” is an important economic concept. What is an

Question

“The pure rate of time preference” is an important economic concept. What is an example of this concept?

We think an Apple computer is more valuable to us now than in the future

We think an Apple computer is going to be much more valuable in the future than it is now because Apple is about to go bankrupt

We think that the value of an Apple computer to us will never change, because we know that Apple is the most stable corporation in the world

We think that the value of an Apple computer to us will never change, because we know that computers will always be valuable

We take along time pieces such as watches or clocks when we travel, because we purely prefer to know the time.

Explanation / Answer

We think an Apple computer is more valuable to us now than in the future. Current consumption is more valuable than future consumption.

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