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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/55875
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| Title: | | Interpreting time horizon effects in inter-temporal choice  |
| Authors: | | Dohmen, Thomas Falk, Armin Huffman, David Sunde, Uwe |
| Issue Date: | | 2012 |
| Series/Report no.: | | CESifo working paper: Behavioural Economics 3750 |
| Abstract: | | We compare different designs that have been used to test for an impact of time horizon on discounting, using real incentives and two representative data sets. With the most commonly used type of design we replicate the typical finding of declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not consistent with any of these usual candidate discounting assumptions, and they also imply a violation of transitivity. The results have implications for interpreting previous evidence, and pose an important puzzle for understanding inter-temporal choice. |
| Subjects: | | time preference hyperbolic discounting self-control dynamic inconsistency intransitivity |
| JEL: | | D01 D90 D03 E21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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