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Measuring Preferences Over Intertemporal Profiles

Chen Sun
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Chen Sun: HU Berlin

No 386, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

Abstract: Growing evidence indicates that utility over time is different from utility under risk. Hence, measuring intertemporal preferences (discounting and utility) exclusively from intertemporal choices is desirable. We develop a simple method for measuring intertemporal preferences. It is parameter-free in both discounting and utility, and allows a wider range of models to be measured than preceding methods. It is easy to implement, clear to subjects, incentive compatible, and does not require more measurements than existing methods if identical assumptions are imposed. In an experiment, we illustrate how the method can be used to test recent models with unconventional assumptions non-parametrically.

Keywords: measuring time preferences; intertemporal profile; parameter-free (search for similar items in EconPapers)
JEL-codes: C91 D12 D91 (search for similar items in EconPapers)
Date: 2023-02-13
New Economics Papers: this item is included in nep-cbe, nep-dem, nep-exp and nep-upt
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