individual delay functions for a range of amounts and time horizons. When we impose SDU assumptions, we classify more than half … magnitude-dependent discounting with time distortion …

. We conclude that heuristic models explain time-money tradeoff choices in experiments better than utility discounting …

response (fear) triggered by a scary experience. To show the plausibility of this conjecture, we conduct a lab experiment. We …

) conditional choice probability (CCP) approach to the setting where individuals may have hyperbolic discounting time preferences … and may be naive about their time inconsistency. We illustrate the proposed estimation method with an empirical …

utility function curvature. We present a new methodology for identifying time preferences, both discounting and utility …

when agents differ in risk preference, time preference and/or expectations. It shows that risk tolerance is a critical … unrealistically volatile.A powerful isomorphism allows differences in time preference and expectations to be swept away in the …

us to estimate models with recursive preferences, latent state variables, and time-aggregated data. Time …-aggregation makes the decision interval of the agent an important parameter to estimate. We find that time-aggregation can significantly … affect parameter estimates and statistical inference. Imposing the pricing restrictions and explicitly accounting for time …

individuals and over time. We define `policy equivalent' representative agents as those agents whose optimal consumption plan … representative preferences. We then show that any policy equivalent representative agent must have a rate of time preference that …-equivalent preferences in the the case of common felicity functions, and show that if the felicity function is iso-elastic, and time …

Mean-variance portfolio theory can apply to the streams of payoffs such as dividends following an initial investment …, in place of one-period returns. This description is especially useful when returns are not independent over time and … time as well as states of nature. In equilibrium, long-run expected returns vary with long-run market betas and outside …