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. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals …
Persistent link: https://www.econbiz.de/10010884153
This paper considers a number of parallels between risky and intertemporal choice. We begin by demonstrating a one-to-one correspondence between the behavioral violations of the respective normative theories for the two domains (i.e., expected utility and discounted utility models). We argue...
Persistent link: https://www.econbiz.de/10009214615
discounting predicts best, especially when both parameters are used. …
Persistent link: https://www.econbiz.de/10011048090
determinants of the discount rate and the possibility of hyperbolic discounting. The historical approach helps us to trace the … prospect theory, considering that perceived utility of the agent alters the structure of their psychological value of time. The …
Persistent link: https://www.econbiz.de/10010742289
Persistent link: https://www.econbiz.de/10009150117
discounting. Time preference measured by comparing dollar amounts across time proves a much weaker predictor than a combination of …
Persistent link: https://www.econbiz.de/10010664297
Persistent link: https://www.econbiz.de/10011212085
We use a panel dataset to test the stability of measured discount rates over time in response to changes in both macroeconomic events and household-level labor market outcomes. While discount rate measures are constructed to capture a rate of time preference, our evidence is inconsistent with...
Persistent link: https://www.econbiz.de/10010608208
's impatience. This effect is incompatible with both the normative exponential and descriptive hyperbolic discounting models, which … larger. Previous research have identified several ways to enhance people's patience. Adding to this literature, the current …
Persistent link: https://www.econbiz.de/10010812074
This paper presents empirical findings on gender differences in time preference and inconsistency based on international, high-level chess panel data with a large number of observations, including a control for ability. Due to the time constraint in chess, it is possible to study performance and...
Persistent link: https://www.econbiz.de/10010611615