2011 | OriginalPaper | Buchkapitel
Life and Legacy
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There is no doubt that Fisher clarified and elaborated upon the contribution of others in the interpretation of impatience as a motivation for present and future consumption and savings. His insights from the intertemporal theory of consumption have been invaluable, even if any precise predictions remained elusive. The overall approach to decisions over time remains today the essence of our understanding of financial markets. In addition, the implications of the Fisher equation remain one of the most frequently discussed, and perhaps misunderstood, of all financial relationships.