Intertemporal discrete choice

Intertemporal Choice

Intertemporal Choice and Inequality

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Random Intertemporal Choice

We provide a theory of random intertemporal choice. Choice is random due to unobserved heterogeneity in discounting from the perspective of a modeler. First, we show that the modeler can identify the distribution of discount rates uniquely from random choice. We then provide axiomatic characterizations of random discounting utility models, including exponential and quasi-hyperbolic discounting ...

Intangibility in intertemporal choice.

Since the advent of the discounted utility (DU) model, economists have thought about intertemporal choice in very specific terms. DU assumes that people make explicit trade-offs between costs and benefits occurring at different points in time. While this explicit trade-off perspective is simple and tractable, and has stimulated productive research, it does not provide a very realistic represent...

Intertemporal choice in lemurs.

Different species vary in their ability to wait for delayed rewards in intertemporal choice tasks. Models of rate maximization account for part of this variation, but other factors such as social structure and feeding ecology seem to underly some species differences. Though studies have evaluated intertemporal choice in several primate species, including Old World monkeys, New World monkeys, an...