We study preferences over lotteries that pay a specific prize at uncertain future dates: time lotteries. The standard … model of time preferences, Expected Discounted Utility (EDU), implies that individuals must be risk seeking in this case. As … a motivation, we show in an incentivized experiment that most subjects exhibit the opposite behavior, i.e., they are …

We study preferences over lotteries that pay a speci fic prize at uncertain future dates: time lotteries. The standard … model of time preferences, Expected Discounted Utility (EDU), implies that individuals must be risk seeking in this case. As … a motivation, we show in an incentivized experiment that most subjects exhibit the opposite behavior, i.e., they are …

with drift and incurs costs depending on his stopping time. The player who stops his process at the highest value wins a …