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"Pay-later" vs. "pay-as-you-go" : experimental evidence on present-biased overconsumption and the importance of timing

Werthschulte, Madeline - 2020

effects, these results can be solely attributed to present-biased discounting under the pay-later scheme. These results imply …

Persistent link: https://www.econbiz.de/10012390729

Persuasion against self-control problems

Wangenheim, Jonas von - 2018

I derive a social planner's optimal information design in an environment with quasi-hyperbolic discounting consumers …

Persistent link: https://www.econbiz.de/10011902726

Fiscal multipliers and time preference

Marcheggiano, Gilberto; Miles, David - 2013

This paper explores the links between fiscal multipliers and household discount rates. We report evidence of a large and statistically significant relationship between reported rates of time preference across countries and the government expenditure multiplier. This study uses recent...

Persistent link: https://www.econbiz.de/10009692601

Intertemporal hedging and trade in repeated games with recursive utility

Kochov, Asen; Song, Yangwei - 2022

Recursive preferences have found widespread application in representative-agent asset-pricing models and general equilibrium. A majority of these applications exploit two decision-theoretic properties not shared by the standard model of intertemporal choice: (i) agents care about the...

Persistent link: https://www.econbiz.de/10014476731

Measuring preferences over intertemporal profiles

Sun, Chen - 2023

preferences (discounting and utility) exclusively from intertemporal choices is desirable. We develop a simple method for … measuring intertemporal preferences. It is parameter-free in both discounting and utility, and allows a wider range of models to … method can be used to test recent models with unconventional assumptions non-parametrically. …

Persistent link: https://www.econbiz.de/10014478410

Time inconsistency and overdraft use : evidence from transaction data and behavioral measurement experiments

Gill, Andrej; Hett, Florian; Tischer, Johannes - 2022

conceptually distinct measures of time inconsistency based on bank account transaction data and behavioral measurement experiments …

Persistent link: https://www.econbiz.de/10013205579

Stated and revealed heterogeneous risk preferences in educational choice

Fossen, Frank M.; Glocker, Daniela - 2014

Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...

Persistent link: https://www.econbiz.de/10010249634

Patience and comparative development

Sunde, Uwe; Dohmen, Thomas; Enke, Benjamin; Falk, Armin; … - 2021

This paper studies the relationship between patience and comparative development through a combination of reduced-form analyses and model estimations. Based on a globally representative dataset on time preference in 76 countries, we document two sets of stylized facts. First, patience is...

Persistent link: https://www.econbiz.de/10013189598

Repeated games with endogenous discounting

Kochov, Asen; Song, Yangwei - 2020

In a symmetric repeated game with standard preferences, there are no gains from intertemporal trade. In fact, under a suitable normalization of utility, the payoff set in the repeated game is identical to that in the stage game. We show that this conclusion may no longer be true if preferences...

Persistent link: https://www.econbiz.de/10012236822

Of restarts and shutdowns : dynamic contracts with unequal discounting

Krasikov, Ilia; Lamba, Rohit; Mettral, Thomas - 2018

A large supplier (principal) contracts with a small firm (agent) to repeatedly provide working capital in return for payments. The total factor productivity of the agent is private and follows a Markov process. Moreover, the agent is less patient than the principal. We solve for the optimal...

Persistent link: https://www.econbiz.de/10011901979

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