Intertemporal Consumption with Risk: A Revealed Preference Analysis
نویسندگان
چکیده
Abstract We run an experiment to elicit preferences over state-contingent timed payouts. analyze the data using a new revealed preference method (building on Nishimura, Ok, and Quah (2017)) that can test for consistency with utility functions increase given preorder. find correlation neutrality, property implied by discounted expected utility, is widely violated there is, instead, strong evidence of intertemporal averse behavior. Our results suggest not additive across both states time credible models choice need allow people prefer negative in
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ژورنال
عنوان ژورنال: The Review of Economics and Statistics
سال: 2022
ISSN: ['0034-6535', '1530-9142']
DOI: https://doi.org/10.1162/rest_a_01220