preferences, with a focus on the measurement or control for potentially non-linear utility. While the objective of a time … preference experiment is usually to estimate parameters of a discount function, assumptions concerning the nature of utility may … assume an equivalence between utility under risk and over time, and whether they result in an estimate of the curvature of …

This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …

. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals … discount future events when balancing the immediate utility of the crime and the costs of a potential future punishment. If …