reports on direct measures of preference parameters relating to risk tolerance, time preference, and intertemporal … of preference parameters display substantial heterogeneity. The majority of respondents fall into the least risk …-tolerant group, but a substantial minority display higher risk tolerance. The individual measures of intertemporal substitution and …

In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … enough to approximate Kahnenman and Tversky's prospect theory and that for certain parametric values will yield the expected … utility model, a subjective expected utility model and a probability-transform model. We find that the four models considered …

Panel on Climate Change (IPCC) narrowed it to 2-4.5°C, only to reverse its decision in 2013, reinstating the prior range. In …We interpret the implications of the 2013 IPCC decision to lower the bottom of the range and excise a best estimate …

observed behaviors of the poor. Temptation goods are defined to be the set of goods that generate positive utility for the self … risk-taking behavior of the poor, which would not arise if temptations were either non-declining or entirely absent …

The possibility that individuals may derive utility from the mere fact of holding wealth has long been recognized. A … simple intertemporal model featuring utility from accumulation is used here to examine consumption and savings, the choice … utility from accumulation helps to explain a number of empirical regularities that otherwise seem inconsistent with optimizing …