Similar Search Results

Recent Developments in the Experimental Elicitation of Time Preference

Cheung, Stephen L. - 2016

This methodological survey reviews recent developments in the design of experiments to elicit individuals' time … preferences, with a focus on the measurement or control for potentially non-linear utility. While the objective of a time … assume an equivalence between utility under risk and over time, and whether they result in an estimate of the curvature of …

Persistent link: https://www.econbiz.de/10012993871

Temporal Dominance and Relative Patience in Intertemporal Choice with Monetary Outcomes

Blavatskyy, Pavlo R. - 2016

area below) the cumulative payoff function of X up till any moment of time is always at least as high as that of Y; or …

Persistent link: https://www.econbiz.de/10012994808

Myopia and Intertemporal Choice

Jin, Miao; Li, Jian; Meng, Juanjuan; Sun, Jinwei - 2021

discount rate across the boundaries of summer vacation, a pattern observed for the first time in the literature. The fact that …

Persistent link: https://www.econbiz.de/10013219343

Eliciting time preferences when income and consumption vary : Theory, validation & application to job search

Belot, Michèle; Kircher, Philipp; Muller, Paul - 2021

We propose a simple method for eliciting individual time preferences without estimating utility functions even in … settings where background consumption changes over time. It relies on lottery tickets with high rewards. In a standard …

Persistent link: https://www.econbiz.de/10013241601

Patience and comparative development

Sunde, Uwe; Dohmen, Thomas; Enke, Benjamin; Falk, Armin; … - 2021

-form analyses and model estimations. Based on a globally representative dataset on time preference in 76 countries, we document two …

Persistent link: https://www.econbiz.de/10013189598

Eliciting Time Preferences When Income and Consumption Vary : Theory, Validation & Application to Job Search

Belot, Michèle; Kircher, Philipp; Muller, Paul - 2021

Persistent link: https://www.econbiz.de/10013246903

Stochastic Impatience and the Separation of Time and Risk Preferences

Dillenberger, David - 2020

We study how the separation of time and risk preferences relates to a behavioral property that generalizes impatience …

Persistent link: https://www.econbiz.de/10012828827

'Ito's Lemma' and the Bellman Equation for Poisson Processes : An Applied View

Sennewald, Ken; Wälde, Klaus - 2021

Using the Hamilton-Jacobi-Bellman equation, we derive both a Keynes-Ramsey rule and a closed form solution for an optimal consumption-investment problem with labor income. The utility function is unbounded and uncertainty stems from a Poisson process. Our results can be derived because of the...

Persistent link: https://www.econbiz.de/10013317637

Patience and comparative development

Sunde, Uwe; Dohmen, Thomas; Enke, Benjamin; Falk, Armin; … - 2020

-form analyses and model estimations. Based on a globally representative dataset on time preference in 76 countries, we document two …

Persistent link: https://www.econbiz.de/10012310848

Intertemporal substitution and recursive smooth ambiguity preferences

Hayashi, Takashi; Miao, Jianjun - In: Theoretical economics : TE ; an open access journal in … 6 (2011) 3, pp. 423-472

In this paper, we establish an axiomatically founded generalized recursive smooth ambiguity model that allows for a separation among intertemporal substitution, risk aversion, and ambiguity aversion. We axiomatize this model using two approaches: the second-order act approach à la Klibanoff,...

Persistent link: https://www.econbiz.de/10011691090