We employ the convex time budget approach in a laboratory experiment to measure individual discount rates for time horizons that are longer (5, 10, and 20 years) than what is typically explored in previous literature. We reject hyperbolic discounting in favor of constant discount rates and...

Many discounting choices affect both the decision maker as well as others. The interpersonal nature of these choices is not well explored because the current empirical literature primarily focuses on estimating individual discount rates (IDRs). We design a laboratory experiment to elicit...