To quote Wikipedia:
In hyperbolic discounting, valuations fall very rapidly for small delay periods, but then fall slowly for longer delay periods. This contrasts with exponential discounting, in which valuation falls by a constant factor per unit delay, regardless of the total length of the delay.
This concept has been viewed as a possible structure for the construction of utility functions, but I'm interested in its application to security valuation. As you may know, asset valuation - at least for equities - is dominated by discounted cash flow (DCF) analysis, which is a time-consistent method of valuation.
Do any models exist to value securities using hyperbolic discounting? If not, how would one go about creating such a model?