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Revealed time preference

Pawel Dziewulski ()

Games and Economic Behavior, 2018, vol. 112, issue C, 67-77

Abstract: Suppose a researcher observes a finite number of preference comparisons between pairs (x,t) of rewards x delivered at time t. We provide necessary and sufficient conditions under which such a dataset can be rationalised with the most common specifications of the discounted utility model. The distinctive feature of our characterisation is that it refers to notions of stochastic dominance among empirical distributions defined over the observed rewards and time delays.

Keywords: Revealed preference; Testable restrictions; Time preference; Discounted utility; Present bias; Exponential discounting (search for similar items in EconPapers)
JEL-codes: C14 C60 C61 D11 D12 (search for similar items in EconPapers)
Date: 2018
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Working Paper: Revealed time-preference (2015) Downloads
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