Can intertemporal choice experiments elicit time preferences for consumption?

Robin Cubitt and Daniel Read ()

Experimental Economics, 2007, vol. 10, issue 4, 369-389

Abstract: The paper considers what can be inferred about experimental subjects’ time preferences for consumption from responses to laboratory tasks involving tradeoffs between sums of money at different dates, if subjects can reschedule consumption spending relative to income in external capital markets. It distinguishes three approaches identifiable in the literature: the straightforward view; the separation view; and the censored data view. It shows that none of these is fully satisfactory and discusses the resulting implications for intertemporal decision-making experiments. Copyright Economic Science Association 2007

Keywords: Discount rates; Elicitation of time preferences; Intertemporal decision-making experiments (search for similar items in EconPapers)
Date: 2007
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Working Paper: Can intertemporal choice experiments elicit time preferences for consumption? (2005)
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DOI: 10.1007/s10683-006-9140-2

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