Exponentiation
When it is a positive integer, the exponent indicates how many copies of the base are multiplied together. For example, . The base appears times in the repeated multiplication, because the exponent is . Here, is the "base", is the "exponent", and is the "power" or, more specifically, "3 raised to the 5th power".
Exponential discounting
In economics exponential discounting is a specific form of the discount function, used in the analysis of choice over time (with or without uncertainty). Formally, exponential discounting occurs when total utility is given by