Many consumers suffer from present bias. To present-biased consumers, the long-term is a foreign country, and they are not sure that they will ever visit. If consumers suffer from present bias, there is room to rethink national policies in multiple domains. For example, regulatory mandates might...

We explore intertemporal decision-making in later life by looking at temporal preference heterogeneity among older individuals. Using choice tasks responses from Poland collected as part of the Survey of Health, Ageing, and Retirement in Europe (SHARE), we elicit individual time preferences...

This paper studies the efficiency of the cryptocurrency market by looking at the distribution of bitcoin prices over time and across exchanges-currency pairs. We document persistent differences in relative bitcoin prices (or discounts), with a half-life of 1 day, and a distribution which is...

The elicitation of the elasticity of intertemporal substitution (EIS), discount factor, and risk attitude parameters in dynamic models is of central importance to economics, finance and public policy. This paper suggests an alternative method to jointly elicit and estimate these three parameters...

In this note we ask when Epstein-Zin-Weil (EZW) recursive utility over the infinite horizon is well-founded. EZW recursive utility has a parameter $\gamma 0$ representing risk aversion and a parameter $\psi 0$ representing intertemporal elasticity of substitution, and is an extension of...

The effectiveness of health recommendations and treatment plans depends on the extent to which individuals follow them. For the individual, medical adherence involves an inter-temporal trade-off between expected future health benefits and immediate effort costs. Therefore examining time...