Ben-Zion, Uri; Krahnen, Jan Pieter; SHAVIT, TAL - Economics Department, Ben Gurion University of the Negev - 2007
This paper uses experimental data to estimate the pure time discount rate for different lengths of times for riskless assets (bonds), and risky assets (delayed lotteries). In moving from the present time (t = 0) to the future, there is a very sharp decline (jump) in the subjective price of the...