We study preferences over lotteries that pay a xed prize at an uncertain future date: what we call time lotteries. The … standard model of risk and time preferences, Expected Discounted Utility, implies that individuals must be risk seeking towards … contributions are theoretical. First, we show that risk aversion over time lotteries can be captured by a generalization of Expected …

Time preferences drive decisions in many economic situations, such as investment contexts or salary negotiations. These … situations are characterized by a very short time frame for decision making. Preferences are potentially susceptible to the … confounding effects of time pressure, as proposed by dual-systems theory (Evans, 2006; Kahneman and Frederick, 2002). Results of …

In this paper we formulate and investigate experimentally a model of how individuals choose between time sequences of … the economics domain. In the experiment we find that: 1) traditional economic models based on discounting alone cannot … association between 'irrational' choices. -- time preference ; time sequences ; negative discounting …

field experiment examines the extent to which this is the case. At different points in time, the same participants allocated … experiment on stationarity, time invariance and time consistency finds using a different design among a different type of …Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed …

with drift and incurs costs depending on his stopping time. The player who stops his process at the highest value wins a …