Showing 1 - 10 of 9,564
-aggregation makes the decision interval of the agent an important parameter to estimate. We find that time-aggregation can significantly …
Persistent link: https://www.econbiz.de/10012460356
Household decisions are profoundly shaped by a complex set of financial options due to Social Security rules determining retirement, spousal, and survivor benefits, along with benefit adjustments that vary with the age at which these are claimed. These rules influence optimal household asset...
Persistent link: https://www.econbiz.de/10012459078
Though risk aversion and the elasticity of intertemporal substitution have been the subjects of careful scrutiny when calibrating preferences, the long-run risks literature as well as the broader literature using recursive utility to address asset pricing puzzles have ignored the full...
Persistent link: https://www.econbiz.de/10012459120
We study procrastination in the context of a field experiment involving students who must exert costly effort to …-imposed deadlines, which appear to be associated with students' self-reported psychological characteristics and cost of time. We … structurally estimate students' present-bias and cost of time by fitting the experimental data to a stylized stopping time choice …
Persistent link: https://www.econbiz.de/10012458790
for risk and patience. Comparing our estimates of the general model to estimates of models which ignore heterogeneity in … about own-earnings, risk aversion, and patience cannot explain gender gaps in major choice …
Persistent link: https://www.econbiz.de/10012479309
Intertemporal tradeoffs play a key role in many personal decisions and policy questions. We describe models of intertemporal choice, identify empirical regularities in choice, and pose new questions for research. The focus for intertemporal choice research is no longer whether the exponential...
Persistent link: https://www.econbiz.de/10012481007
Heuristic models have been proposed for many domains of choice. We compare heuristic models of intertemporal choice, which can account for many of the known intertemporal choice anomalies, to discounting models. We conduct an out-of-sample, cross-validated comparison of intertemporal choice...
Persistent link: https://www.econbiz.de/10012457718
Decisions to invest in human capital depend on people's time preferences. We show that differences in patience are … within-country disparities. We use social-media data - Facebook interests - to construct novel regional measures of patience … within Italy and the United States. Patience is strongly positively associated with student achievement in both countries …
Persistent link: https://www.econbiz.de/10014372447
when a decision is complex, they implicitly treat different time delays to some degree alike. By experimentally measuring … explains various core empirical regularities, such as why people often appear very impatient, why per-period impatience is … choices frequently violate transitivity. Second, impatience is context-dependent: discounting is substantially more hyperbolic …
Persistent link: https://www.econbiz.de/10012794605
We use two different approaches to measure intertemporal preferences. First we employ the classical method of inferring preferences from a series of choices (subjects choose between $X now or $Y in D days). Second we adopt the novel approach of inferring preferences using only response time data...
Persistent link: https://www.econbiz.de/10012464294