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Reis, Ricardo - National Bureau of Economic Research (NBER) - 2004

This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing … consumption plans. In between updating dates, they remain inattentive. This behavior implies that news disperses slowly throughout … the population, so events have a gradual and delayed effect on aggregate consumption. The model predicts that aggregate …

Persistent link: https://www.econbiz.de/10005085238

Climate Economics: A Meta-Review and Some Suggestions

Heal, Geoffrey - National Bureau of Economic Research (NBER) - 2008

What have we learned from the outpouring of literature as a result of the Stern Review of the Economics of Climate Change? A lot. We have explored the model space and the parameter space much more thoroughly, though there are still unexplored regions. While there are aspects of the Stern...

Persistent link: https://www.econbiz.de/10005828640

Delay Functions as the Foundation of Time Preference: Testing for Separable Discounted Utility

Noor, Jawwad; Ericson, Keith Marzilli - National Bureau of Economic Research (NBER) - 2015

Delay functions, which vary timing of rewards but fix the money dimension, can elicit the form of discount functions with minimal assumptions. We present a general theorem that characterizes the set of discount functions and utility indices compatible with any 'regular' preference. We provide...

Persistent link: https://www.econbiz.de/10011262925

Resolving Intertemporal Conflicts: Economics vs Politics

Heal, Geoffrey; Millner, Antony - National Bureau of Economic Research (NBER) - 2014

seeks to implement efficient allocations, and a 'Politics' approach in which agents vote over consumption plans. We compare …

Persistent link: https://www.econbiz.de/10011079878

Individual Time Preferences and Energy Efficiency

Newell, Richard; Siikamäki, Juha - National Bureau of Economic Research (NBER) - 2015

We examine the role of individual discount rates in energy efficiency decisions using evidence from an extensive survey of U.S. homeowners to elicit preferences for energy efficiency and cash flows over time. We find considerable heterogeneity in individual discount rates. We also find that...

Persistent link: https://www.econbiz.de/10011189097

The Wealthy Hand-to-Mouth

Kaplan, Greg; Violante, Giovanni L.; Weidner, Justin - National Bureau of Economic Research (NBER) - 2014

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...

Persistent link: https://www.econbiz.de/10010772575

On the Interaction of Memory and Procrastination: Implications for Reminders

Ericson, Keith M Marzilli - National Bureau of Economic Research (NBER) - 2014

I examine the interaction between present-bias and limited memory. Individuals in the model must choose when and whether to complete a task, but may forget or procrastinate. Present-bias expands the effect of memory: it induces delay and limits take-up of reminders. Cheap reminder technology can...

Persistent link: https://www.econbiz.de/10010888676

The Joint Identification of Utility and Discount Functions From Stated Choice Data: An Application to Durable Goods Adoption

Dube, Jean-Pierre H.; Hitsch, Günter J.; Jindal, Pranav - National Bureau of Economic Research (NBER) - 2012

We present a survey design that generalizes static conjoint experiments to elicit inter-temporal adoption decisions for durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly identified using data generated by this specific design. In...

Persistent link: https://www.econbiz.de/10010969265

Incentives, Commitments and Habit Formation in Exercise: Evidence from a Field Experiment with Workers at a Fortune-500 Company

Royer, Heather; Stehr, Mark F.; Sydnor, Justin R. - National Bureau of Economic Research (NBER) - 2012

Financial incentives have been shown to have strong positive short‐run effects for problematic health behaviors, but the effects often disappear once incentive programs end. This paper analyzes the results of a large‐scale workplace field experiment to examine whether self‐funded...

Persistent link: https://www.econbiz.de/10010969298

Aspirations and Inequality

Genicot, Garance; Ray, Debraj - National Bureau of Economic Research (NBER) - 2014

This paper develops a theory in which society-wide economic outcomes shape individual aspirations, which affect the investment incentives of individuals. Through its impact on investments, aspirations in turn affect ambient social outcomes. We explore this two-way link. A central feature is that...

Persistent link: https://www.econbiz.de/10010951084