This paper examines the empirical question of whether subjects' static choices among rewards received at different times are influenced by their expected income levels at those times. Moreover, we recover time preferences after compensating for possible income effects. Besides eliciting...

Delay functions, which vary timing of rewards but fix the money dimension, can elicit the form of discount functions with minimal assumptions. We present a general theorem that characterizes the set of discount functions and utility indices compatible with any 'regular' preference. We provide...

This Supplementary Appendix contains the English translations of the experimental questionnaire, survey questions, and instructions that were used in our experimental sessions on June 9th and 10th of 2010. For the original Icelandic language documents, please contact the authors.The paper...

Delay functions, which vary timing of rewards but fix the money dimension, can elicit the form of discount functions with minimal assumptions. We present a general theorem that characterizes the set of discount functions and utility indices compatible with any 'regular' preference. We provide...