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16:30 - 18:00 20 May 2014

Testable Implications of Quasi-Hyperbolic and Exponential Time Discounting, Savage in the Market

Location

Room 321 | Drayton House (link Map)
30 Gordon Street | London | WC1H 0AN | United Kingdom

Open to: Academic | Student
Ticketing: Open

Speaker information

Kota Saito

We present the first revealed-preference characterizations of the models of exponential time discounting, quasi-hyperbolic time discounting, and other time-separable models of consumers' intertemporal decisions. The characterizations provide non-parametric revealed-preference tests, which we take to data using the results of a recent experiment conducted by Andreoni and Sprenger(2012). For such data, we find that less than half the subjects are consistent with exponential discounting, and only a few more are consistent with hyperbolic discounting.


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