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a lower intergenerational transmission of patience. The latter is driven by interfering parents not transmitting their … on experiments with over 2,000 members of 610 families, we find that parents anticipate their children's present bias and … aim to mitigate it. Using a novel method to measure parental interference, we show that more than half of all parents are …
Persistent link: https://www.econbiz.de/10013250780
Standard consumption utility is linked in time to a consumption event, whereas the timing of prosocial utility flows is … related to the act of giving and is thus choice-dated. Even though most prosocial decisions involve intertemporal trade …-offs, existing models of other-regarding preferences abstract from the time signature of utility flows, limiting their explanatory …
Persistent link: https://www.econbiz.de/10013250248
, good-specific discounting, under certain conditions, can explain the persistence of poverty and low savings by the poor …. The paper presents evidence that these conditions are satisfied in the context under study by showing that the share of …This paper tests the broadly adopted assumption that people apply a single discount rate to the utility from different …
Persistent link: https://www.econbiz.de/10013099793
We experimentally manipulate two aspects of the cognitive environment, cognitive depletion and recent sugar intake, and … estimate their effects on individuals' time preferences in a way that allows us to identify the structural parameters of a … decisions like intertemporal financial choice, the ‘attention/focusing' effect of both prior cognitively demanding activity and …
Persistent link: https://www.econbiz.de/10013084671
. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals … discount future events when balancing the immediate utility of the crime and the costs of a potential future punishment. If … first empirical investigation of the link between time preferences and criminal behavior. Our study is made possible by …
Persistent link: https://www.econbiz.de/10013053536
total factor productivity. We provide empirical evidence in line with the predictions of our theory …This paper develops a simple general equilibrium model which establishes a link between the patience of economic agents … and the well-being of nations. We show that firms in long-term oriented countries can mitigate hold-up inefficiencies by …
Persistent link: https://www.econbiz.de/10012923240
extraordinary expenditures for Christmas gifts; the other asked in February when no such extra constraints exist. We illustrate an … application of our method with unemployed job seekers which naturally have income/consumption variation …
Persistent link: https://www.econbiz.de/10013246903
preferences only. They invite to reconsider the psychological interpretation of the discount factor, and suggest that the …We study time preferences by means of a longitudinal lab experiment involving both monetary and non-monetary rewards … imposing any structural assumption on the instantaneous utility, intertemporal utility or the discounting functions. We find …
Persistent link: https://www.econbiz.de/10013216566
that the behavior we observe is consistent with an existing psychological explanation of preference reversals …We study three procedures to elicit attitudes towards delayed payments: the Becker-DeGroot-Marschak procedure; the … second price auction; and the multiple price list. The payment mechanisms associated with these methods are widely considered …
Persistent link: https://www.econbiz.de/10012995578
This methodological survey reviews recent developments in the design of experiments to elicit individuals' time … preferences, with a focus on the measurement or control for potentially non-linear utility. While the objective of a time … preference experiment is usually to estimate parameters of a discount function, assumptions concerning the nature of utility may …
Persistent link: https://www.econbiz.de/10012993871