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This short note summarizes the theory part of "Non-parametric test of time consistency: Present bias and Future bias … corresponds to present (future) bias, and it also presents (2) the elicitation of future bias and increasing impatience, and (3 …) the estimation of time discount function which is independent of the utility function. Figure illustrates the inverse S …
Persistent link: https://www.econbiz.de/10013142429
Persistent link: https://www.econbiz.de/10009243285
provide a systematic analysis of present bias in individual and social contexts, as well as its stability across these two. In … prices using a convex budget set approach. We find a substantial present bias in generosity. In generalized dictator games … consequences plays no role when choices only affect the future. At the individual level, we find that the present bias displayed in …
Persistent link: https://www.econbiz.de/10011819425
of present bias across contexts. Discounting in social situations thus seems to be conceptually different from …
Persistent link: https://www.econbiz.de/10012499664
, structural estimations reveal that this is because agents exhibit present bias in own but not in others' consumption. We show … that very similar differences in present bias are observed in the absence of any interpersonal trade-offs, when agents … decide either for themselves or on behalf of another person. At the individual level, we find that present bias in own …
Persistent link: https://www.econbiz.de/10012232130
In accounting for the phenomenon of present bias, the hyperbolic discounting and quasi-hyperbolic discounting models … extended present bias hypothesis with distinct present and near term bias followed by exponential discounting into the future …
Persistent link: https://www.econbiz.de/10014186935
bias for money. In this paper, we compare estimates of present bias for money with estimates for healthy and unhealthy … bias for both money and food, and that individual measures of present bias are moderately correlated across reward types …
Persistent link: https://www.econbiz.de/10012242348
We investigate whether the value of time (VOT) depends on when the corresponding preferences are measured: in advance, just before, or after the time period for which the time preferences are being evaluated. We find that the VOT is highest when elicited just before the time period. This is an...
Persistent link: https://www.econbiz.de/10012507266
present bias are (not) confounded by complexity. …
Persistent link: https://www.econbiz.de/10014447758
Using a unique field experiment from Canada, we estimate individual preference over risk and time and show considerable heterogeneity in both dimensions and relatively stable distributions across our various specifications, which include hyperbolic, quasi-hyperbolic discounting as well as...
Persistent link: https://www.econbiz.de/10011580855