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 …

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 …

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 …

can be non-parametrically identified with contracts that specify payments that take place at various points in time in the … market. Even though we allow for a general-hyperbolic specification (which has exponential discounting as a special case …

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 …

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 …