assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the …, ambiguity aversion, and the propensity to smooth consumption over time …

We compare different designs that have been used to test for an impact of time horizon on discounting, using real … declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not … consistent with any of these usual candidate discounting assumptions, and they also imply a violation of transitivity. The …

future by using present tense (like German). We complement Chen's approach with experimentally elicited time preference data …

To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward … risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … these characteristics over time and across situations. We find high reliability and that individual characteristics are …

The paper reexamines the welfare economics of intergenerational risk. Risk and its resolution over time are modeled as … uncertain benefits of future generations; as time passes, the planner observes the realized shocks and becomes more informed … resolution of risk, (iii) show different discounting formulas depending on the magnitude of risk and on the timing of its …

Based on the Ramsey equation and an ethically motivated rejection of pure utility time discount, the Stern Review on … η is preferable to the use of the pure time discount parameter ρ when a balanced distribution of utility across …

-hyperbolic discounting, the optimal subsidy is unrelated to this level. With discount rates that are strictly decreasing in relative time …This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If … as do the principal and he obtains full property rights to the future returns. With geometric discounting, there would be …

time preference from economic evaluation. The resulting preference representation still gives reduced weight to expected … future utility when uncertainty increases over time. The more we know about the future welfare consequences of our (in …) actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting …

risk aversion in a simple model where time discounting is ignored, we find completely different estimates for this … estimate of risk aversion and the time preference discount rate per individual. This can be done because the consumption of a … large prize is smoothed over a larger time period. It is found that both parameters strongly vary over individuals, while …