The preferences and traits that make entrepreneurship unprofitable, usually encourage entrepreneurial entry decisions. We investigate this proposition, where the taste parameter is impatience. Impatient employees search less intensively for entrepreneurial opportunities. However, once a prospect...

We conduct an evaluation of a randomized early childhood intervention on children’s time preference. The Jamaican-based home visiting program is aimed at improving knowledge of child development and child-rearing practices. Analyzing the impact of a weekly home visiting program for over 500...

We adapt the design of five experimental studies on retirement decision-making and conduct reproductions with a larger sample from the broader population. We reproduce most of the main effects of the original studies. In particular, we find that consumption decisions are less efficient when...

Scarcity is a ubiquitous experience, and existing evidence largely suggests that people become more myopic when they feel their resources are scarce. Importantly, evidence for this proposition comes primarily from contexts in which scarcity threatens needs that require resources imminently. The...

Individual’s time preference may be influenced by a variety of factors such as economic conditions. In this paper, we consider the time inconsistent preference triggered by the switches of firm’s profitability state and apply it to the model of dynamic agency and the q theory of investment....

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...

Financial development plays a key role in economic growth, but there is limited research on how greater access to financial services affects households’ intertemporal choices. By conceptualizing intertemporal choices into utility maximization problems, this study shows that such choices are...

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...