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Tying Odysseus to the mast : evidence from a commitment savings product in the Philippines

Ashraf, Nava; Karlan, Dean; Yin, Wesley - 2005

We designed a commitment savings product for a Philippine bank and implemented it using a randomized control … methodology. The savings product was intended for individuals who want to commit now to restrict access to their savings, and who … for commitment, were indeed significantly more likely to open the commitment savings account. After twelve months, average …

Persistent link: https://www.econbiz.de/10011612543

Comparative risk aversion : a formal approach with applications to saving behaviors

Bommier, Antoine; Chassagnon, Arnold; Le Grand, François - 2010

allows us to establish new general results on the impact of risk aversion on savings behaviors. In particular, we show that … risk aversion enhances precautionary savings, clarifying the link that exists between the notions of prudence and risk …

Persistent link: https://www.econbiz.de/10008748230

Risk and savings : a taxonomy

Gunning, Jan Willem - 2008

-period model how the effect of risk on savings depends not only on preferences but also on the type of risk. …

Persistent link: https://www.econbiz.de/10011376643

Weighted temporal utility

Gerber, Anke; Rohde, Kirsten I. M. - 2013

We propose a novel utility representation for preferences over risky timed outcomes. The weighted temporal utility model generalizes many well known utility functions for intertemporal decision making under risk. A decision maker with a weighted temporal utility function can have time consistent...

Persistent link: https://www.econbiz.de/10010224796

Delay aversion

Benoît, Jean-Pierre; Ok, Efe A. - In: Theoretical economics : TE ; an open access journal in … 2 (2007) 1, pp. 71-113

We address the following question: When can one person properly be said to be more delay averse than another? In reply, several (nested) comparison methods are developed. These methods yield a theory of delay aversion which parallels that of risk aversion. The applied strength of this theory is...

Persistent link: https://www.econbiz.de/10011702602

Consume now or later? : time inconsistency, collective choice and revealed preference

Adams, Abi; Cherchye, Laurens; Rock, Bram de; Verriest, … - 2014

In this paper, we develop a revealed preference methodology that allows us to explore whether time inconsistencies in household choice are the product of individual preference nonstationarities or the result of individual heterogeneity and renegotiation within the collective unit. An empirical...

Persistent link: https://www.econbiz.de/10010356826

Role of time preferences in explaining the burden of malnutrition : evidence from urban India

Dang, Archana - 2020

savings (a proxy for time preferences) to BMI; and a primary survey of 885 adults conducted in West Delhi. Using quantile …

Persistent link: https://www.econbiz.de/10012234427

Endogenous Present-Biasedness and Policy Implementation

Lai, Edwin L.-C; Furusawa, Taiji - 2006

We show that under a two-party political system the party in office tends to be present-biased and time-inconsistent. This may lead to inefficient procrastination of socially beneficial projects. However, procrastination needs not be indefinite. There exist equilibria in which the project is...

Persistent link: https://www.econbiz.de/10014055460

The logical consistency of time inconsistency : a theory of forward-looking behavior

Galperti, Simone; Strulovici, Bruno - 2013

This paper argues that, to be forward-looking in a logically consistent sense, a decision maker must take account of his overall well-being, not just his instantaneous utility, in all future periods. However, such a decision-maker is necessarily time inconsistent. The paper explores the...

Persistent link: https://www.econbiz.de/10010197485

Hyperbolic Discounting in Search Equilibrium

Moen, Espen R.; Rosen, Asa - 2005

We ananlyze general equilibrium effects of hyperbolic discounting among unemployed workers in search equilibrium. We show that hyperbolic discounting changes the workers' trade-off between high wages and a high exit rate from unemployment, thus influencing the behavior of firms. More...

Persistent link: https://www.econbiz.de/10014066908