Magnitude effect in intertemporal allocation tasks

Artikel

Intertemporal choices are affected by both discount rate and utility curvature. We investigate how the two aspects of time preference are affected by the size of the total budget using an intertemporal allocation task. At the aggregate level as well as at the individual level, we find magnitude effects both on the discount rate and on intertemporal substitutability (i.e., utility curvature). Individuals are more patient when dealing with larger budgets and also regard larger budgets to be more fungible. The latter effect suggests that the degree of asset integration is increasing in the stake.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Experimental Economics ; ISSN: 1573-6938 ; Volume: 25 ; Year: 2021 ; Issue: 2 ; Pages: 593-623 ; New York, NY: Springer US

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Design of Experiments: Laboratory, Individual ; Consumer Economics: Empirical Analysis ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
• Thema: Time preference ; Magnitude effect ; Convex Time Budget method ; Asset integration

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Sun, Chen ; Potters, Jan
• Ereignis: Veröffentlichung
• (wer): Springer US
• (wo): New York, NY
• (wann): 2021

Weitere Informationen

• DOI: doi:10.1007/s10683-021-09723-w
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ