Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...

Time preferences for financial and air quality gains and losses at delays of up to 50 years were elicited using three different methods: matching, fixed-sequence choice titration, and a dynamic "multiple staircase" choice method. Results indicate that the choice-based methods are prone to...

To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...

Incentivized experiments are commonly used to estimate marginal rate of intertemporal substitution (MRS) in the lab and in the field, and to make inferences about subject’s time preference. This paper considers the implications of an integrated model of behavior in which individuals are...