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 … field experiment examines the extent to which this is the case. At different points in time, the same participants allocated …

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 …