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Uncertainty about the timing of retirement is a major financial risk with implications for decision making and welfare over the life cycle. We estimate that the standard deviation of the difference between retirement expectations and actual retirement dates ranges from 4.28 to 6.92 years. We...
Persistent link: https://www.econbiz.de/10012983656
Intertemporal tradeoffs play a key role in many personal decisions and policy questions. We describe models of intertemporal choice, identify empirical regularities in choice, and pose new questions for research. The focus for intertemporal choice research is no longer whether the exponential...
Persistent link: https://www.econbiz.de/10012906455
. We conduct a field experiment to elicit time preferences of over 1,200 children ages 3-12, who make several intertemporal …Time preferences have been correlated with a range of life outcomes, yet little is known about their early development … decisions. To shed light on how such primitives form, we explore various channels that might affect time preferences, from …
Persistent link: https://www.econbiz.de/10012891777
behavior in cashing the check and completing tasks on time. Our results lend support to the hypothesis that subjects who have a …
Persistent link: https://www.econbiz.de/10013222925
. We conclude that heuristic models explain time-money tradeoff choices in experiments better than utility discounting …
Persistent link: https://www.econbiz.de/10013028066
We study procrastination in the context of a field experiment involving students who must exert costly effort to …-imposed deadlines, which appear to be associated with students' self-reported psychological characteristics and cost of time. We … structurally estimate students' present-bias and cost of time by fitting the experimental data to a stylized stopping time choice …
Persistent link: https://www.econbiz.de/10013059754
This paper presents the results of a laboratory experiment designed to investigate whether the option of a Prize Linked … men, self-reported lottery players, and subjects with low bank account balances. We use the results of our experiment to … structurally estimate the parameters of the decision problem governing time preference, risk aversion, and probability weighting …
Persistent link: https://www.econbiz.de/10013080409
Tax collection problems date back to the earliest recorded history of mankind. This paper begins with a simple theoretical construct of paying (rather than declaring) taxes, which we argue has been an overlooked aspect of tax compliance. This construct is then tested in two large natural field...
Persistent link: https://www.econbiz.de/10013056206
decentralized digital currency. As a unique feature of the experiment, students who would generally adopt first were placed in a …
Persistent link: https://www.econbiz.de/10012983668
response (fear) triggered by a scary experience. To show the plausibility of this conjecture, we conduct a lab experiment. We …
Persistent link: https://www.econbiz.de/10013077968