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...

This paper studies the relationship between population size and the rate of time preference (RTP) in pre-capitalist subsistence agricultural communities. The RTP is reflected in the community´s propensity to invest in and maintain new arable land that may be considered as an inherent...

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...

Considering that the assumption of time consistency does not adequately reveal the mechanisms of exit decisions of venture capital (VC), this study proposes two kinds of time-inconsistent preferences (i.e., time-flow inconsistency and time-point inconsistency) to advance research in this field....

Integrated assessment models have become the primary tools for comparing climate policies that seek to reduce greenhouse gas emissions. Policy comparisons have often been performed by considering a planner who seeks to make optimal trade-offs between the costs of carbon abatement and the...

This article analyzes the relationship between individual decisions to smoke and to do physical exercises. It is assumed that individual time preferences play a major role in explaining individual health behavior. The database is the special survey of Russians' lifestyle conducted in 2017. A...