Recent developments in the experimental elicitation of time preference
Journal of Behavioral and Experimental Finance, 2016, vol. 11, issue C, 1-8
This methodological survey reviews recent developments in the design of experiments to elicit individuals’ time preferences, with a focus on the measurement or control for potentially non-linear utility. While the objective of a time preference experiment is usually to estimate parameters of a discount function, assumptions concerning the nature of utility may have an important influence upon these estimates. The survey classifies experiment designs on two dimensions: whether they assume an equivalence between utility under risk and over time, and whether they result in an estimate of the curvature of utility.
Keywords: Time preference; Discounted utility; Instantaneous utility; Choice list (search for similar items in EconPapers)
JEL-codes: C91 D03 D90 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Working Paper: Recent Developments in the Experimental Elicitation of Time Preference (2016)
Working Paper: Recent developments in the experimental elicitation of time preference (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:11:y:2016:i:c:p:1-8
Access Statistics for this article
Journal of Behavioral and Experimental Finance is currently edited by Michael Dowling and Jürgen Huber
More articles in Journal of Behavioral and Experimental Finance from Elsevier
Series data maintained by Dana Niculescu ().