Testable Implications of Models of Intertemporal Choice: Exponential Discounting and Its Generalizations

被引：7

作者：

Echenique, Federico ^{[1
]}

Imai, Taisuke ^{[2
]}

Saito, Kota ^{[1
]}

机构：

[1] CALTECH, Div Humanities & Social Sci, Pasadena, CA 91125 USA

[2] Ludwig Maximilians Univ Munchen, Dept Econ, D-80539 Munich, Germany

来源：

AMERICAN ECONOMIC JOURNAL-MICROECONOMICS | 2020年 / 12卷 / 04期

基金：

美国国家科学基金会;

关键词：

TIME-PREFERENCES; CONSISTENCY; UTILITY;

D O I：

10.1257/mic.20180028

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We present revealed-preference characterizations of the most common models of intertemporal choice: the model of exponentially discounted concave utility, and some of its generalizations. Our characterizations take consumption data as primitives, and provide nonparametric revealed-preference tests. We apply our tests to data from two recent experiments and find that our axiomatization delivers new insights and perspectives on datasets that had been analyzed by traditional parametric methods.

引用

页码：114 / 143

页数：30

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