Arbeitspapier
Temporal Discounting in Later Life
We explore intertemporal decision-making in later life by looking at temporal preference heterogeneity among older individuals. Using choice tasks responses from Poland collected as part of the Survey of Health, Ageing, and Retirement in Europe (SHARE), we elicit individual time preferences using competing discounting specifications. With the formulation that best fits our data, we examine which individual characteristics drive the estimated heterogeneity in later life time preferences. Individual numerical abilities, labour and marital status, as well as household income turn out to be significant correlates of patience. Our analysis also provides methodological guidance for instrument design with the aim of eliciting time preferences in a general survey setting.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 15643
- Klassifikation
-
Wirtschaft
Consumer Economics: Empirical Analysis
Intertemporal Household Choice; Life Cycle Models and Saving
Survey Methods; Sampling Methods
Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
- Thema
-
time preferences
discount rate
present bias
survey methodology
old age
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kulati, Ellam
Myck, Michal
Pasini, Giacomo
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute of Labor Economics (IZA)
- (wo)
-
Bonn
- (wann)
-
2022
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Kulati, Ellam
- Myck, Michal
- Pasini, Giacomo
- Institute of Labor Economics (IZA)
Entstanden
- 2022
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