We develop a model capturing habit formation, projection bias, and present bias in an intertemporal-choice setting, and conduct a field experiment to identify its main parameters. We elicit subjects' pre- and post-treatment predictions of post-treatment gym attendance, using a habit-formation...

There are increasing calls for concrete suggestions for how to account for distributional impacts in regulatory analysis. Within the context of benefit-cost analysis, per se, one possibility is to apply “distributional weights,” to inflate costs and benefits experienced by poor or...

Estimates of the parameters of the quasi-hyperbolic discounting model–beta and delta–have been used for quantitative purposes, including comparisons of the psychology of discounting between populations and decision-making contexts, design of optimal regulation, and adjustment of benefits in...