shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then … used to estimate the discount rates of households. We show that there is substantial heterogeneity in discounting behaviour … been found in experimental investigations of time preference. …

We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data … models, where we substitute period effects with determinants of time preferences that depend on calendar years. We find that …