Random models for the joint treatment of risk and time preferences

Jose Apesteguia, Miguel Ballester and Ángelo Gutiérrez-Daza

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: We develop a simple, tractable and sound stochastic framework for the joint treatment of risk and time preferences, in order to facilitate the estimation of risk and time attitudes. In so doing we: (i) study deterministic models of risk and time preferences paying special attention to their comparative statics, (ii) embed the deterministic models and their comparative statics within the random utility framework, and (iii) show how to estimate them, illustrating this exercise on several experimental datasets.

Keywords: Risk preferences; time preferences; comparative statics; stochastic choice; random utility models; discrete choice. (search for similar items in EconPapers)
JEL-codes: C01 D01 (search for similar items in EconPapers)
Date: 2019-09
New Economics Papers: this item is included in nep-dcm and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://econ-papers.upf.edu/papers/1671.pdf Whole Paper (application/pdf)

Related works:
Working Paper: Random Models for the Joint Treatment of Risk and Time Preferences (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:upf:upfgen:1671

Access Statistics for this paper

More papers in Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra
Bibliographic data for series maintained by ( this e-mail address is bad, please contact ).