Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/191497
Year of Publication: 
2017
Series/Report no.: 
IRENE Working Paper No. 17-02
Publisher: 
University of Neuchâtel, Institute of Economic Research (IRENE), Neuchâtel
Abstract: 
We develop a simple theoretical framework that identifies time preferences without relying on a particular utility function. Our empirical strategy requires observations about intertemporal consumption allocation decisions made under varying relative prices, and seeks to approximate the marginal rate of substitution of consumption at different dates along a constant consumption path. Doing so, we emphasize the importance of measuring the curvature of the intertemporal utility function (or willingness to substitute consumption across time). We illustrate our approach with data derived from the convex time budget procedure of Andreoni and Sprenger (AER, 2012).
Subjects: 
Intertemporal choice
Discounting behavior
Intertemporal substitution
Discounted utility model
Convex budgets
JEL: 
D03
D12
D91
E61
Document Type: 
Working Paper

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