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Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed in choice experiments. These choice reversals may however also result from time-varying discount rates. Hyperbolic discounting is a plausible explanation for choice reversals...
Persistent link: https://www.econbiz.de/10011307819
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...
Persistent link: https://www.econbiz.de/10010403760
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to … impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index (BMI …
Persistent link: https://www.econbiz.de/10013131926
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to … particular, more impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body …
Persistent link: https://www.econbiz.de/10013118350
- to eleven-year old primary school children in the city of Meran, we find that cooperation generally increases with age …, but that the gap between cooperation among in-group members and cooperation towards children speaking another language is …
Persistent link: https://www.econbiz.de/10010529903
We study the transmission of risk attitudes in a unique survey of mothers and children in which both participated in an … incentivized risk preference elicitation task. We document that risk preferences are correlated between mothers and children when … the children are just 7 to 8 years old. This correlation is only present for daughters. We show that a measure of parental …
Persistent link: https://www.econbiz.de/10013027964
This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show that LDU meets the standard assumptions of efficiency,...
Persistent link: https://www.econbiz.de/10011855845
. We study in an experiment with 336 kindergarten children, aged three to six years, whether intertemporal choice behavior … is malleable. In a control condition, about 50% of children prefer two rewards the next day over one reward immediately … successfully in promoting delay of gratification. We also find that patience increases with age and that more patient children have …
Persistent link: https://www.econbiz.de/10011317627
I define "generous sustainability" as a combination of two conditions: neither instantaneous maximin income nor attainable maximin income should decrease over time. I provide a formal definition and study applications to an AK economy, a Ramsey economy, and a Climate Economy. Generosity is shown...
Persistent link: https://www.econbiz.de/10010438470
One main motive behind lengthy prison terms for serious crime is to deter potential offenders from engaging in crime. 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...
Persistent link: https://www.econbiz.de/10010355861