Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/141657
Authors: 
Cheung, Stephen L.
Year of Publication: 
2016
Series/Report no.: 
IZA Discussion Papers 9898
Abstract: 
This methodological survey reviews recent developments in the design of experiments to elicit individuals' time preferences, with a focus on the measurement or control for potentially non-linear utility. While the objective of a time preference experiment is usually to estimate parameters of a discount function, assumptions concerning the nature of utility may have an important influence upon these estimates. The survey classifies experiment designs on two dimensions: whether they assume an equivalence between utility under risk and over time, and whether they result in an estimate of the curvature of utility.
Subjects: 
instantaneous utility
discounted utility
time preference
choice list
JEL: 
C91
D03
D90
Document Type: 
Working Paper

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