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Replication data for: Estimating Time Preferences from Convex Budgets

Version
1
Resource Type
Dataset
Creator
  • Andreoni, James
  • Sprenger, Charles
Publication Date
2012-12-01
Description
  • Abstract

    Experimentally elicited discount rates are frequently higher than what seems reasonable for economic decision-making. Such high rates are often attributed to present-biased discounting. A well-known bias of standard measurements is the assumption of linear consumption utility. Attempting to correct this bias using measures of risk aversion to identify concavity, researchers find reasonable discounting but at the cost of exceptionally high utility function curvature. We present a new methodology for identifying time preferences, both discounting and curvature, from simple allocation decisions. We find reasonable levels of both discounting and curvature and, surprisingly, dynamically consistent time preferences. (JEL C91, D12, D81)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.102.7.3333 (Text)
Publications
  • Andreoni, James, and Charles Sprenger. “Estimating Time Preferences from Convex Budgets.” American Economic Review 102, no. 7 (December 2012): 3333–56. https://doi.org/10.1257/aer.102.7.3333.
    • ID: 10.1257/aer.102.7.3333 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Andreoni, James; Sprenger, Charles (2012): Replication data for: Estimating Time Preferences from Convex Budgets. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112569V1