Currently I'm studying the RCK model at my Advanced Macroeconomics I classes. A question arose almost immediately when I saw the utility function of a household in this model.
The question is: why are we using exp(-ρt) inside this integral? I mean: why this functional form in particular? I love mastering every single aspect of every model I study, that's why I'm asking so. Thank you really much in advance for your kind responses.