We study how timing assumption matters for the commitment problem and time inconsistency in search models with unemployment insurance. We analyze the Markov equilibrium without commitment and the Ramsey policy with commitment under two different timings. The first timing is where consumption...

In this paper we use the SMS instant messaging application to examine the effect of notifications on time preferences. To do so we conducted a laboratory experiment with three different groups. Participants in the first (second) treatment group received SMS messages with a high (low) degree of...

We use a field experiment and a within-subject design based on multiple Choice Lists (CLs) that integrate time and risk. Diminishing impatience with extended time horizons is studied by varying time horizons from one week to two years. Time-dated risky prospects are constant within CLs and are...

Long-term care (LTC) is one of the largest expenditure risks the elderly in many countries, including the U.S., face. Despite a large private expenditure share, demand for private LTC insurance is low ( 20%). This pre-registered study investigates to what extent attitudes toward uncertainty...

This paper investigates the role of children in explaining the life-cycle pattern of consumption (which is hump-shaped since it is higher in the middle of life and lower at the beginning and end of life). Unlike previous studies, a true panel of U.K. households was exploited to investigate...