منابع مشابه
Estimating Individual Discount Rates With Field Experiments
We estimate individual discount rates with respect to time streams of money using controlled laboratory experiments. These discount rates are elicited by means of field experiments involving real monetary rewards. The experiments were carried out across Denmark using a representative sample of 268 people between 19 and 75 years of age. Individual discount rates are estimated for various househo...
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This paper uses Þeld evidence and a structural consumption-savings model to estimate discount functions. Evidence on wealth accumulation implies that people act patiently when considering long-term decisions, while data on credit card borrowing and consumption-income comovement suggests impatient behavior in the short term. Using the Method of Simulated Moments we estimate an institutionally ri...
متن کاملEstimating Discount Functions with Consumption Choices over the Lifecycle
Intertemporal preferences are di¢ cult to measure. We estimate time preferences using a structural bu¤er stock consumption model and the Method of Simulated Moments. The model includes stochastic labor income, liquidity constraints, child and adult dependents, liquid and illiquid assets, revolving credit, retirement, and discount functions that allow short-run and longrun discount rates to di¤e...
متن کاملEstimating implied rates of discount in healthcare decision-making.
OBJECTIVES To consider whether implied rates of discounting from the perspectives of individual and society differ, and whether implied rates of discounting in health differ from those implied in choices involving finance or "goods". DESIGN The study comprised first a review of economics, health economics and social science literature and then an empirical estimate of implied rates of discoun...
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In a recent paper, Newell and Pizer (2003) (N&P) build upon Weitzman (1998, 2001) and show how uncertainty about future interest rates leads to ‘certainty equivalent’ forward rates (CER) that decline with the time horizon. Such Declining Discount Rates (DDR’s) have important implications for the economic appraisal of the long-term policy arena (e.g. climate change) and inter-generational equity...
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ژورنال
عنوان ژورنال: The Japanese Journal of Real Estate Sciences
سال: 2018
ISSN: 0911-3576,2185-9531
DOI: 10.5736/jares.32.3_78