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Eliciting discount functions when baseline consumption changes over time
Gerber, Anke; Rohde, Kirsten I. M. - 2014
preference reversals arecommonly interpreted as contradicting constant discounting. This interpretation is correctonly if … baseline consumption to which the outcomes are added, remains constant over time.The difficulty with measuring discounting when … discounted. In this paper we propose a way to disentangle thetwo effects, which allows us to draw conclusions about discounting …
Persistent link: https://www.econbiz.de/10011379439
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Be patient when measuring Hyperbolic Discounting : stationarity, time consistency and time invariance in a field experiment
Janssens, Wendy; Kramer, Berber; Swart, Lisette - 2015
Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our … conclude that when incomes fluctuate, one can only identify hyperbolic discounting by eliciting violations of both stationarity …
Persistent link: https://www.econbiz.de/10011307819
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Non-marginal cost-benefit analysis and the tyranny of discounting
Vermeylen, Koen - 2013
, effectively defeating the tyranny of discounting. A back-of-the-envelope calibration suggests that this last result is realistic …
Persistent link: https://www.econbiz.de/10010227375
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Modified Ramsey discounting for climate change
Tol, Richard S. J. - 2013
Persistent link: https://www.econbiz.de/10010191276
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Weighted temporal utility
Gerber, Anke; Rohde, Kirsten I. M. - 2013
We propose a novel utility representation for preferences over risky timed outcomes. The weighted temporal utility model generalizes many well known utility functions for intertemporal decision making under risk. A decision maker with a weighted temporal utility function can have time consistent...
Persistent link: https://www.econbiz.de/10010224796
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Harvesting and conservation in a predator-prey system
Hoekstra, Jeljer; Bergh, Jeroen C. J. M. van den - 2001
Persistent link: https://www.econbiz.de/10001554555
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Fiscal policy with limited-time commitment
Clymo, Alex; Lanteri, Andrea - 2016
We consider models where the Ramsey-optimal fiscal policy under Full Commitment (FC) is time-inconsistent and define a new notion of optimal policy, Limited-Time Commitment (LTC). Successive one-period lived governments can commit to future plans over a finite horizon. We provide a sufficient...
Persistent link: https://www.econbiz.de/10011520532
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Banking and trading
Boot, Arnoud W. A.; Ratnovski, Lev - 2012
Persistent link: https://www.econbiz.de/10010190997
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HIV/AIDS, risk aversion and intertemporal choice
Lammers, Judith; Wijnbergen, Sweder van - 2008 - Rev.
This study analyses the relation between perceived health status and intertemporal choice. We use data from experiments with real monetary rewards conduEted among students in South Africa to estimate risk and time preferences. These experimental data, based on muitiple price lists developed by...
Persistent link: https://www.econbiz.de/10011373818
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Generalized reduced rank tests using the singular value decomposition
Kleibergen, Frank; Paap, Richard - 2003
statistic of Robin and Smith [Econometric Theory (2000), 16, 151–175] usage of numerical optimization for the objective function … singular values in Ratsimalahelo [2002, Rank test based on matrix perturbation theory. Unpublished working paper, U …
Persistent link: https://www.econbiz.de/10011332818