We study time preferences by means of a longitudinal lab experiment involving both monetary and non-monetary rewards … (leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without … imposing any structural assumption on the instantaneous utility, intertemporal utility or the discounting functions. We find …

We study time preferences by means of a longitudinal lab experiment involving both monetary and non-monetary rewards … (leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without … imposing any structural assumption on the instantaneous utility, intertemporal utility or the discounting functions. We find …

show that the assumption of positive discounting is not always true. The presented experimental study shows how a decrease … in probability increases the chances of negative discounting. According to the results, the expected large, uncertain … in the frequency of negative discounting due to increased uncertainty. The results of the study broaden the existing …

confounding effects of time pressure, as proposed by dual-systems theory (Evans, 2006; Kahneman and Frederick, 2002). Results of … function curvature and long-run discounting are stable across conditions. The findings are confirmed on the individual level …. Embedding our results in dual-systems theory, how information is presented can serve as a potential means to exogenously …

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. …

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

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 …

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 …