Exponentiation
Exponentiation is a mathematical operation, written as , involving two numbers, the "base" and the "exponent" . When is a positive integer, exponentiation corresponds to repeated multiplication of the base: that is, is the product of multiplying bases:
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