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Revealed time preference
Suppose a researcher observes a finite number of preference comparisons between pairs (x,t) of rewards x delivered at time t. We provide necessary and sufficient conditions under which such a dataset can be rationalised with the most common specifications of the discounted utility model. The distinctive feature of our characterisation is that it refers to notions of stochastic dominance among empirical distributions defined over the observed rewards and time delays.
History
Publication status
- Published
File Version
- Accepted version
Journal
Games and Economic BehaviorISSN
0899-8256Publisher
ElsevierExternal DOI
Volume
112Page range
67-77Department affiliated with
- Economics Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2018-09-11First Open Access (FOA) Date
2020-02-15First Compliant Deposit (FCD) Date
2018-09-10Usage metrics
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