We compare different designs that have been used to test for an impact of time horizon on discounting, using real …

We compare different designs that have been used to test for an impact of time horizon on discounting, using real …

Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … in choice experiments. These choice reversals may however also result from time-varying discount rates. Hyperbolic … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our …

We study preferences over lotteries that pay a xed prize at an uncertain future date: what we call time lotteries. The … standard model of risk and time preferences, Expected Discounted Utility, implies that individuals must be risk seeking towards … contributions are theoretical. First, we show that risk aversion over time lotteries can be captured by a generalization of Expected …

We employ the convex time budget approach in a laboratory experiment to measure individual discount rates for time … discounting in favor of constant discount rates and because of the long time horizon, the average discount rate of 1.9% is much …

People’s value for their own time is a key input in evaluating public policies: evaluations should account for time …-DeGroot-Marschak - BDM - mechanism of Becker et al., 1964) correctly measure participants' value of time. Using a structural model, we … cash either for time or for goods. Our model estimates suggest that valuing the time of the self-employed at 60% of the …

We study preferences over lotteries that pay a specific prize at uncertain future dates: time lotteries. The standard … model of time preferences, Expected Discounted Utility (EDU), implies that individuals must be risk seeking in this case. As … risk averse over time lotteries (RATL). We then make two theoretical contributions. First, we show that RATL can be …

We study preferences over lotteries that pay a speci fic prize at uncertain future dates: time lotteries. The standard … model of time preferences, Expected Discounted Utility (EDU), implies that individuals must be risk seeking in this case. As … risk averse over time lotteries (RATL). We then make two theoretical contributions. First, we show that RATL can be …

. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals … criminals have short time horizons, then it is hard to imagine punishment acting as a key deterrent. This paper provides the … first empirical investigation of the link between time preferences and criminal behavior. Our study is made possible by …

We compare different designs that have been used to test for an impact of time horizon on discounting, using real …-temporal choice. -- time preference ; hyperbolic discounting ; self-control ; dynamic inconsistency ; intransitivity …