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We use two different approaches to measure intertemporal preferences. First we employ the classical method of inferring preferences from a series of choices (subjects choose between $X now or $Y in D days). Second we adopt the novel approach of inferring preferences using only response time data...
Persistent link: https://www.econbiz.de/10012464294
that reject time-consistent expected utility maximization is a time-0 choice that is always strictly dominated at time 1 … inconsistency can be point identified from willingness to pay for different alternatives in both periods, if utility from money is …
Persistent link: https://www.econbiz.de/10012585445
We report the results of an online experiment studying preferences for giving and preferences for group-wide redistribution in small (4-person) and large (200-person) groups. We find that the desire to engage in voluntary giving decreases significantly with group size. However, voting for...
Persistent link: https://www.econbiz.de/10012660053
The standard revealed-preference approach to welfare economics encounters fundamental difficulties when the act of choosing directly affects welfare through emotions such as guilt, pride, and anxiety. We address this problem by developing an approach that redefines consumption bundles in terms...
Persistent link: https://www.econbiz.de/10014512054