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Evidence on Individual Preferences for Longevity Risk

Delprat, Gaëtan - 2013

The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity, agents are not sensitive to a mean preserving spread in the length of life. Using a survey fielded in the RAND American Life Panel (ALP), this paper provides empirical evidence on...

Persistent link: https://www.econbiz.de/10013083382

Time Preferences and Lifetime Outcomes

Golsteyn, Bart H. H. - 2013

This paper investigates the relationship between time preferences and lifetime social and economic behavior. We use a Swedish longitudinal dataset that links information from a large survey on children's time preferences at age 13 to administrative registers spanning over five decades. Our...

Persistent link: https://www.econbiz.de/10013087421

Predicting Retirement Savings Using Survey Measures of Exponential-Growth Bias and Present Bias

Goda, Gopi Shah - 2018

In a nationally-representative sample, we predict retirement savings using survey-based elicitations of exponential … present over the future, are highly significant and economically meaningful predictors of retirement savings. These … calculations suggest that eliminating EGB and PB would increase retirement savings by approximately 12 percent …

Persistent link: https://www.econbiz.de/10012911197

How General are Time Preferences? Eliciting Good-Specific Discount Rates

Ubfal, Diego - 2012

, good-specific discounting, under certain conditions, can explain the persistence of poverty and low savings by the poor …

Persistent link: https://www.econbiz.de/10013099793

The Impact of Education on the Subjective Discount Rate in Ugandan Villages

Bauer, Michal - 2009

Heterogeneity in time discounting may reinforce the existing barriers to save and invest faced by rural populations in developing countries. We elicit a subjective discount rate for a varied sample of Ugandan villagers. In accordance with other studies, we have found the discount rate to...

Persistent link: https://www.econbiz.de/10012764244

Motivational Goal Bracketing with Non-Rational Goals

Koch, Alexander K.; Nafziger, Julia - 2021

We provide a tractable model of motivational goal bracketing by a present-biased individual, extending previous work to show that the main insights from models with rational goals carry over to a setting with non-rational goals. Goals motivate because they serve as reference points that make...

Persistent link: https://www.econbiz.de/10013244262

Motivational Goal Bracketing

Koch, Alexander K. - 2009

It is a puzzle why people often evaluate consequences of choices separately (narrow bracketing) rather than jointly (broad bracketing). We study the hypothesis that a present-biased individual, who faces two tasks, may bracket his goals narrowly for motivational reasons. Goals motivate because...

Persistent link: https://www.econbiz.de/10013155475

Self-Regulation Through Goal Setting

Koch, Alexander K. - 2008

Goals are an important source of motivation. But little is known about why and how people set them. We address these questions in a model based on two stylized facts from psychology and behavioral economics: i) Goals serve as reference points for performance. ii) Present-biased preferences...

Persistent link: https://www.econbiz.de/10012768179

Stability of Time Preferences

Meier, Stephan - 2011

Individuals frequently face intertemporal decisions. For the purposes of economic analysis, the preference parameters assumed to govern these decisions are generally considered to be stable economic primitives. However, evidence on the stability of time preferences is notably lacking. In a large...

Persistent link: https://www.econbiz.de/10013133877

Suboptimal Choices and the Need for Experienced Individual Well-Being in Economic Analysis

Hsee, Christopher K. - 2012

Standard economic analysis assumes that people make choices that maximize their utility. Yet both popular discourse and other fields assume that people sometimes fail to make optimal choices and thus adversely affect their own happiness. Most social sciences thus frequently describe some...

Persistent link: https://www.econbiz.de/10013110203