Arbeitspapier
Interpreting time horizon effects in inter-temporal choice
We compare different designs that have been used to test for an impact of time horizon on discounting, using real incentives and two representative data sets. With the most commonly used type of design we replicate the typical finding of declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not consistent with any of these usual candidate discounting assumptions, and they also imply a violation of transitivity. The results have implications for interpreting previous evidence, and pose an important puzzle for understanding inter-temporal choice.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 6385
- Classification
-
Wirtschaft
Microeconomic Behavior: Underlying Principles
Micro-Based Behavioral Economics: General‡
Macroeconomics: Consumption; Saving; Wealth
- Subject
-
time preference
hyperbolic discounting
self-control
dynamic inconsistency
intransitivity
Zeitpräferenz
Abzinsung
Persönlichkeitspsychologie
- Event
-
Geistige Schöpfung
- (who)
-
Dohmen, Thomas
Falk, Armin
Huffman, David
Sunde, Uwe
- Event
-
Veröffentlichung
- (who)
-
Institute for the Study of Labor (IZA)
- (where)
-
Bonn
- (when)
-
2012
- Handle
- URN
-
urn:nbn:de:101:1-201206146607
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Dohmen, Thomas
- Falk, Armin
- Huffman, David
- Sunde, Uwe
- Institute for the Study of Labor (IZA)
Time of origin
- 2012
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