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Time Preferences Over the Life Cycle and Household Saving Puzzles

Kureishi, Wataru; Paule-Paludkiewicz, Hannah; … - 2021

Most economic models assume that time preferences are stable over time, but the evidence on their long-term stability is lacking. We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data. We provide new evidence that discount rates...

Persistent link: https://www.econbiz.de/10013239561

Savings Externalities and Wealth Inequality

Angelopoulos, Konstantinos - 2019

Incomplete markets models imply heterogeneous household savings behaviour which in turn generates pecuniary … in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous … earnings processes of British households with university and non-university educated heads entail savings externalities that …

Persistent link: https://www.econbiz.de/10012871023

Time Variation in Lifecycle Consumption and Income

Aksoy, Yunus - 2020

We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption profiles have consistently become flatter: differences in consumption across generations have decreased. Pooling data across different periods to identify lifecycle profiles masks...

Persistent link: https://www.econbiz.de/10012839357

Impatience and Uncertainty : Experimental Decisions Predict Adolescents' Field Behavior

Sutter, Matthias - 2011

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of...

Persistent link: https://www.econbiz.de/10013118350

Job Stability, Earnings Dynamics, and Life-Cycle Savings

Kuhn, Moritz; Ploj, Gašper - 2021

Labor markets are characterized by large heterogeneity in job stability. Some workers hold lifetime jobs, whereas others cycle repeatedly in and out of employment. This paper explores the economic consequences of such heterogeneity. Using Survey of Consumer Finances (SCF) data, we document a...

Persistent link: https://www.econbiz.de/10013314915

Parental Paternalism and Patience

Kiessling, Lukas; Chowdhury, Shyamal K.; … - 2021

We study whether and how parents interfere paternalistically in their children’s intertemporal decision-making. Based on experiments with over 2,000 members of 610 families, we find that parents anticipate their children’s present bias and aim to mitigate it. Using a novel method to measure...

Persistent link: https://www.econbiz.de/10013250733

Collective Choice with Heterogeneous Time Preferences

Pakhnin, Mikhail - 2021

This paper reviews recent research on the aggregation of heterogeneous time preferences. Main results are illustrated in simple Ramsey models with two or three agents who differ in their discount factors. We employ an intertemporal view on these models and argue that preferences of a decision...

Persistent link: https://www.econbiz.de/10013222212

Concentration Bias in Intertemporal Choice

Dertwinkel-Kalt, Markus; Gerhardt, Holger; Riener, Gerhard - 2021

Many intertemporal trade-offs are unbalanced: while the advantages of options are concentrated in a few periods, the disadvantages are dispersed over numerous periods. We provide novel experimental evidence for “concentration bias”, the tendency to overweight advantages that are concentrated...

Persistent link: https://www.econbiz.de/10013232411

Globalization, Time-Preferences, and Populist Voting

Aronsson, Thomas - 2020

Societies see growing support for populist politicians who advocate an end to globalization. Our behavioral economics model links impatience to voters' appraisals of an income shock due to globalization that is associated with short-run costs and delayed gains. The model shows that impatient...

Persistent link: https://www.econbiz.de/10012826005

Coordination with Differential Time Preferences : Experimental Evidence

Agranov, Marina; Kim, Jeongbin; Yariv, Leeat - 2023

The experimental literature on repeated games has largely focused on settings where players discount the future identically. In applications, however, interactions often occur between players whose time preferences differ. We study experimentally the effects of discounting differentials in...

Persistent link: https://www.econbiz.de/10014348138