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How time flies : time perception and intertemporal choice

Chen, Xiu; Zhao, Xiaojian - In: Journal of behavioral and experimental economics 109 (2024), pp. 1-14

Persistent link: https://www.econbiz.de/10014526897

Hyperbolic discounting and the time-consistent solution of three canonical environmental problems

Strulik, Holger - 2017

In this paper I propose a time-consistent method of discounting hyperbolically that contains the discount rate implied … discounting it is impossible under time-consistent hyperbolic discounting. This result is also confirmed for open access resources … by Gamma discounting as a special case. I apply the discounting method to three canonical environmental problems: (i …

Persistent link: https://www.econbiz.de/10011706020

Hyperbolic discounting and the time-consistent solution of three canonical environmental problems

Strulik, Holger - 2017

In this paper I propose a time-consistent method of discounting hyperbolically and apply it to three canonical …, time-consistent hyperbolic discounting leads always to a steady state of maximum yield, or, if the environment enters the … exponential discounting it is impossible under time-consistent hyperbolic discounting. This result is also confirmed for open …

Persistent link: https://www.econbiz.de/10011742760

Dynamically Inconsistent Preferences and Money Demand

Millemaci, Emanuele; Waldmann, Robert J. - Centro di Studi Internazionali Sull'Economia e la … - 2008

This paper focuses on two main issues. First, we find that, on average, households’ discount rates decline. This implies dynamically inconsistent preferences. Second, we calculate an indicator of the degree of dynamic inconsistency that may help us to understand how households overcome their...

Persistent link: https://www.econbiz.de/10005450639

A Heuristic Approach to Explore : The Value of Perfect Information

Shahrokhi Tehrani, Shervin - 2019

How do people make choices in a dynamic stochastic environment when they face uncertainty about the return of their choices? The classical approach to this problem is to assume consumers use dynamic programming to obtain the optimal decision rule. However, this approach has two drawbacks. First,...

Persistent link: https://www.econbiz.de/10012870784

Predicting Variation in Endowment Effect Magnitudes

Jaeger, Christopher Brett; Brosnan, Sarah F.; Levin, Daniel - 2020

evolutionary theory, we derived six factors that predicted 52% of the between-item variation in magnitudes for a novel set of 24 …

Persistent link: https://www.econbiz.de/10014096022

Human Capital and Household Portfolio Choice : The Importance of the Persistence of Labor Income Shocks

Shim, Kyung Hwan - 2015

Using longitudinal data from PSID, we show the positive relation between labor income and the equity share of financial wealth is stronger for those who have a higher persistence in shocks to permanent labor income. The results support the hypothesis that the cross sectional variation in...

Persistent link: https://www.econbiz.de/10013024082

Analysis of intertemporal choice : a new framework and experimental results

Gigliotti, Gary Anthony; Sopher, Barry - 1997 - Revised version

Persistent link: https://www.econbiz.de/10011576682

Intertemporal prosocial choice : the inconsistency puzzle

Islam, Marco - 2022

frequency of interaction (one-shot vs. repeated interaction). The results reveal that both under repeated and one-time …

Persistent link: https://www.econbiz.de/10013332362

Risk Aversion and the Subjective Time Discount Rate: A Joint Approach

van Praag, Bernard M.S.; Booij, Adam S. - 2003

, entrepreneurship and an obesity index. Very significant effects are found. If weexplain ? in a simple model where time discounting is … estimate of risk aversion ? and the time preference discount rate ? perindividual. This can be done because the consumption of …

Persistent link: https://www.econbiz.de/10010324926