Random Models for the Joint Treatment of Risk and Time Preferences

Miguel Ballester and Jose Apesteguia
Authors registered in the RePEc Author Service: Ángelo Gutiérrez-Daza

No 1117, Working Papers from Barcelona School of Economics

Abstract: We develop a simple, tractable and sound stochastic framework for the joint treatment of risk and time preferences, in order to facilitate the estimation of risk and time attitudes. In so doing we: (i) study deterministic models of risk and time preferences paying special attention to their comparative statics, (ii) embed the deterministic models and their comparative statics within the random utility framework, and (iii) show how to estimate them, illustrating this exercise on several experimental datasets.

Keywords: risk preferences, discrete choice, comparative statics, time preferences, stochastic choice; random utility models (search for similar items in EconPapers)
JEL-codes: C01 D01 (search for similar items in EconPapers)
Date: 2019-09
New Economics Papers: this item is included in nep-dcm, nep-ecm and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Working Paper: Random models for the joint treatment of risk and time preferences (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:bge:wpaper:1117

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