کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
957131 | 928510 | 2009 | 7 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Hyperbolic discounting and the standard model: Eliciting discount functions
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Experiments on static intertemporal choice find evidence of particularly extreme impatience toward immediate rewards. While this is often taken as support for hyperbolic discounting, it could also arise because the most likely participants in experiments may be those with the most immediate need for money. We conduct a calibration exercise and find that the extreme impatience observed in experiments can be accommodated by a standard exponential discounting model with no discounting and expectation of a ‘small’ increase in the base consumption level. The calibration uses existing estimates of curvature of utility.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 144, Issue 5, September 2009, Pages 2077–2083
Journal: Journal of Economic Theory - Volume 144, Issue 5, September 2009, Pages 2077–2083
نویسندگان
Jawwad Noor,