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Revealed Preferences in Intertemporal Decision Making
Theory and Decision, 2004This paper connects two tracks of previous research: revealed preference theory and intertemporal decision making. It demonstrates that, in contrast to static decision frameworks, in dynamic settings the Weak Axiom of Revealed Preference is not sufficient for a perfect correspondence between an agent's observed choices and the unobservable preferences ...
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Intertemporal preference with loss aversion: Consumption and risk-attitude
Journal of Economic Theory, 2022zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Kyoung Jin Choi +2 more
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The health consequences of intertemporal preferences
2017Intertemporal tradeoffs, the conflict between current and future costs and benefits, lie at the core of health decisions. An extensive literature on time discounting has documented the widespread tendency to place a lower value on distant outcomes and to favor benefits in the moment.
Oleg Urminsky, Gal Zauberman
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Estimating Intertemporal Preferences for Natural Resource Allocation
American Journal of Agricultural Economics, 2005In this article, we show how the degree of risk aversion, discounting, and preference for intertemporal substitution for a natural resource manager can be structurally estimated within a recursive utility framework. We focus on the management of a reservoir in California, and test the data for consistency with a recursive utility model specification ...
Howitt, Richard +3 more
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Optimal Hedging under Intertemporally Dependent Preferences
The Journal of Finance, 1990ABSTRACTThis paper examines optimal hedging behavior in a market where preferences for current consumption are partly determined by the consumer's past consumption history. The model considers an individual exposed to price risk, who allocates wealth between consumption and futures contracts over a (continuous‐time) finite planning horizon.
Briys, Eric +2 more
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Social Status and Intertemporal Preferences
SSRN Electronic Journal, 2009The field of household finance has established a correlation between savings behavior and education, income, and race. This is partly explained by a high discount rate ultimately leading to low social status. This paper establishes causation in the opposite direction, with a relatively low social status position leading to a relatively high discount ...
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The neural predictors of choice preference in intertemporal choice
Brain Research, 2012Intertemporal choice may involve two processing stages: a valuation stage and a choice stage. Decision makers must integrate the various dimensions of an option (e.g., money, time) into a single measure of its subjective value (the valuation stage) and then choose the option that is the most valuable (the choice stage).
Lei, Liu, Tingyong, Feng
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Intertemporal Preferences and the Adoption Decision for Bluetooth Speakers
2019The adoption decision for durable goods is intertemporal by definition. However, estimating utility and discount functions from revealed preference data using dynamic discrete choice models is difficult because of an inherent identification problem. To overcome this issue, we use stated preference data.
Guhl, Daniel, Klapper, Daniel
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Asset Allocation Is Intertemporal Preference
2018Asset allocation is an exercise in subjective intertemporal preference. Saving and investing demand that we understand this preference, our liquidity needs, and the macroeconomic and institutional context we live in. But we have simply lost that understanding and instead follow regulations. Under the current paradigm, for instance, expected returns are
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Intertemporally Dependent Preferences and the Volatility of Consumption and Wealth
Review of Financial Studies, 1989In this article we construct a model in which a consumer’s utility depends on the consumption history We describe a general equilibrium framework similar to Cox, Ingersoll, and Ross (1985a). A simple example is then solved in closedform in this general equilibrium setting to rationalize the observed stickiness of the consumption series relative to the ...
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