Revealed time preference

Dziewulski, Pawel (2018) Revealed time preference. Games and Economic Behavior, 112. pp. 67-77. ISSN 0899-8256

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Abstract

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.

Item Type: Article
Keywords: Revealed preference, Testable restrictions, Time preference, Discounted utility, Present bias, Exponential discounting
Schools and Departments: School of Business, Management and Economics > Economics
Depositing User: Pawel Dziewulski
Date Deposited: 11 Sep 2018 13:41
Last Modified: 02 Jul 2019 14:34
URI: http://sro.sussex.ac.uk/id/eprint/78636

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