Incentivized experiments are commonly used to estimate marginal rate of intertemporal substitution (MRS) in the lab and in the field, and to make inferences about subject’s time preference. This paper considers the implications of an integrated model of behavior in which individuals are...

People may be uncertain about future preferences, leading to both a preference for flexibility in choice between menus and stochastic choice from menus. This paper describes an experimental test of preference uncertainty in a realeffort task. We observe subjects' preferences over menus of work...