ability and workers' inter-temporal preferences (discounting). We apply this test to the large observed differences in wages … and wage growth rates between smokers and non-smokers. The evidence supports the discounting hypothesis …

This paper evaluates the extent of heterogeneity in time discounting among elderly Americans, as well as its role in …, we show how differences in discounting patterns are associated with characteristics of particular importance in elderly … populations, such as serious health and mental conditions. We then relate our discounting measure to key outcome variables …

, which can account for many of the known intertemporal choice anomalies, to discounting models. We conduct an out …-of-sample, cross-validated comparison of intertemporal choice models. Heuristic models outperform traditional utility discounting … models, including models of exponential and hyperbolic discounting. The best performing models predict choices by using a …

discounting. A commonly recognized bias of standard elicitation techniques is the use of linear preferences for identification … utility function curvature. We present a new methodology for identifying time preferences, both discounting and utility … obtained, dynamically consistent discounting, and limited though significant utility function curvature …

thereafter, which is inconsistent with exponential discounting but consistent with hyperbolic discounting. The implied marginal … rate of time preference declines and then rises. Estimates of the quasi-hyperbolic discounting parameter range from 0.48 to …