An Empirical Study on Intertemporal Decision Making Under Risk
Martin Ahlbrecht and
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Martin Ahlbrecht: Lehrstuhl für ABWL, Finanzwirtschaft, insbesondere Bankbetriebslehre, Universität Mannheim, 68131 Mannheim, Germany
Management Science, 1997, vol. 43, issue 6, 813-826
This study compares time preference in the cases of certainty and risk. We analyze both matching and choice behavior. We find that violations of the stationarity axiom are restricted to matching behavior, both for certainty and risk. We also compare the discounting of certain and risky outcomes as well as the discounting of gains and losses. In matching tasks, certain outcomes are discounted more than risky ones. We could not confirm these results in a choice task. Gains and losses are not found to be discounted at different rates.
Keywords: experimental study; behavioral anomalies; time preference (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:43:y:1997:i:6:p:813-826
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