Saving and Dissaving With Hyperbolic Discounting
نویسندگان
چکیده
منابع مشابه
Uncertainty and Hyperbolic Discounting
Empirical studies in economics and behavioral ecology suggest that, ceteris paribus, animals and humans appear to place less weight on the future than on the present, i.e., they act as though they discount future payoffs. Furthermore (and more interestingly), they do so with discount rates that increase as the time before those payoffs are realized grows shorter. In other words, subjects act as...
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In this paper we elicit preferences for discounting via experimental techniques. We then estimate a general speci cation of discounting that nests exponential and hyperbolic discounting, as well as various forms of present bias, including quasihyperbolic discounting. The data strongly favor a speci cation with a small present bias in the form of a xed cost, of the order of $4 on average across...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2018
ISSN: 0012-9682
DOI: 10.3982/ecta15112