Search Results - subject:": time preference"

Ambiguity, Prudence and Optimal Portfolio

Girardi, Fabio - 2021

This paper extends the robust mean-variance analysis of Maccheroni et al. (2013) by investigating the contribution of ambiguity prudence to the optimal stock allocation when the investor evaluates portfolio compositions as described by the smooth model under ambiguity criterion. Ambiguity...

Persistent link: https://www.econbiz.de/10014361824

Public-private Mix of Health Expenditure : A Political Economy and Quantitative Analysis

Li, Shuyun May; Moslehi, Solmaz; Yew, Siew Ling - 2021

This paper constructs a simple model to examine decisions on public and private health spending under majority voting. In the model, agents with heterogeneous incomes choose how much to consume and spend on health care and vote for public health expenditure. The health status of an agent is...

Persistent link: https://www.econbiz.de/10013245915

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 intertemporal choice model high rewards decouple lottery...

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

Hyperbolic Discounting of Public Goods

Viscusi, W. Kip; Huber, Joel - 2021

This article examines revealed rates of time preference for public goods, using environmental quality as the case study … estimates implied that the rate of time preference is very high for immediate improvements and drops off substantially … rate of time preference declines and then rises. Estimates of the quasi-hyperbolic discounting parameter range from 0.48 to …

Persistent link: https://www.econbiz.de/10013247670

The Social Security Early Entitlement Age in a Structural Model of Retirement and Wealth

Gustman, Alan L.; Steinmeier, Thomas L. - 2021

retirement both at ages 62 and at 65. Our estimates suggest that leisure and time preference are widely distributed among the … population, with a bimodal distribution of time preference. Discount rates are either very low or very high. Those with high …

Persistent link: https://www.econbiz.de/10013248672

Psychological and Biological Foundations of Time Preference : Evidence from a Day Reconstruction Study with Biological Tracking

Daly, Michael; Delaney, Liam; Harmon, Colm - 2021

This paper considers the relationship between the economic concept of time preference and relevant concepts from …

Persistent link: https://www.econbiz.de/10013324995

Discounting Financial Literacy : Time Preferences and Participation in Financial Education Programs

Meier, Stephan; Sprenger, Charles - 2021

individual time preference may explain who will and who will not choose to become financially literate. This has implications for …

Persistent link: https://www.econbiz.de/10013325150

Analysing smallholder farmers' adoption of new technology under the consideration of risk attitudes and time preferences

Sarwosri, Arieska Wening - 2021

Die Nutzung neuer Technologien in der Landwirtschaft spielt eine entscheidende Rolle, um die durch exponentielles Bevölkerungswachstum bedingten Herausforderungen zu bewältigen. Seit der Grünen Revolution der 1960er Jahre haben Forscher Probleme und Herausforderungen, welche mit der Nutzung...

Persistent link: https://www.econbiz.de/10013326363

Temporal Instability of Risk Preference among the Poor : Evidence from Payday Cycles

Akesaka, Mika; Eibich, Peter; Hanaoka, Chie; Shigeoka, … - 2021

The poor live paycheck to paycheck and are repeatedly exposed to strong cyclical income fluctuations. We investigate whether such income fluctuations affect risk preference among the poor. If risk preference temporarily changes around payday, optimal decisions made before payday may no longer be...

Persistent link: https://www.econbiz.de/10013229315

Intertemporal Labor Supply : An Assessment

Card, David E. - 2021

The lifecycle labor supply model has been proposed as an explanation for various dimensions of labor supply, including movements over the business cycle, changes with age, and within-person variation over time. According to the model, all of these elements are tied together by a combination of...

Persistent link: https://www.econbiz.de/10013229358