. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals …

attributed to non-stationary discounting. We solve this problem introducing the discounted Luce rule. It retains the flexibility …-hyperbolic discounting. Lastly, we discuss an extension of the model to recursive stochastic choices with the present bias. …

the economics domain. In the experiment we find that: 1) traditional economic models based on discounting alone cannot …; 2) our model, despite considering only a specific (exponential) form of discounting, can explain the data much better … basic predictions of discounting theories: the deviations are not random and there are clear systematic patterns of …

choice. These rates differ because of two countervailing effects: (1) the individual applies quasi-hyperbolic discounting to …

Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our … field experiment examines the extent to which this is the case. At different points in time, the same participants allocated …

preference experiment is usually to estimate parameters of a discount function, assumptions concerning the nature of utility may … have an important influence upon these estimates. The survey classifies experiment designs on two dimensions: whether they …

measurement of time preference and risk attitude that are elicited in two parts of an experiment. Afterwards, the discount rate is …