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 …

We compare different designs that have been used to test for an impact of time horizon on discounting, using real …-temporal choice. -- time preference ; hyperbolic discounting ; self-control ; dynamic inconsistency ; intransitivity … declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not …

discounting. Additionally, waiting periods have larger effects on those shown to be particularly prone to myopia as a result of …

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 …

Discounting has to take account of ecosystem services in consumption and production. Previous literature focuses on the …

rate with a distribution that is constant over time) are discussed for why the social discount rate is likely to decline … over time. A declining social discount rate also emerges if account is taken from the relative price effects resulting from …

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. -- ambiguity ; climate change ; cost benefit analysis … ; discounting ; intertemporal substitutability ; risk aversion ; uncertainty …

Recent developments in economic theory model intertemporal choice decisions as problems of restraining one’s natural … examine whether this is indeed the case for laboratory elicitations of time preference. In other words, is savings behavior …

attainable maximin income should decrease over time. I provide a formal definition and study applications to an AK economy, a …