This paper studies the relationship between patience and comparative development through a combination of reduced … sets of stylized facts. First, patience is strongly correlated with per capita income and the accumulation of physical …. Second, the magnitude of the patience elasticity strongly increases in the level of aggregation. To provide an interpretive …

This paper studies the relationship between patience and comparative development through a combination of reduced … sets of stylized facts. First, patience is strongly correlated with both per capita income and the accumulation of physical …. Second, the quantitative magnitude of the patience elasticity strongly increases in the level of aggregation. To provide an …

identify the mix of behavioral features driving our choice data. We find that these features distort choices when exchanging … cash either for time or for goods. Our model estimates suggest that valuing the time of the self-employed at 60% of the … taken away from work or leisure as a result of policy. Using rich choice data collected from farming households in western …

aversion in a representative sample of the U.S. population (N = 2;000). DOSE elicitations are more accurate, more stable across … time, and faster to administer than standard methods. We find that around 50% of the U.S. population is loss tolerant. This … is counter to earlier findings, which mostly come from lab/student samples, that a strong majority of participants are …