Replication data for: Risk Preferences Are Not Time Preferences: Separating Risk and Time Preference: Comment
Principal Investigator(s): View help for Principal Investigator(s) Bin Miao; Songfa Zhong
Version: View help for Version V1
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20131183_data | 10/12/2019 01:17:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 09:17:PM |
Project Citation:
Miao, Bin, and Zhong, Songfa. Replication data for: Risk Preferences Are Not Time Preferences: Separating Risk and Time Preference: Comment. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E112950V1
Project Description
Summary:
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Andreoni and Sprenger (2012a,b) observe that utility functions are
distinct for risk and time preferences, and show that their findings
are consistent with a preference for certainty. We revisit this
question in an enriched experimental setting in which subjects make
intertemporal decisions under different risk conditions. The observed choice behavior supports a separation between risk attitude and intertemporal substitution rather than a preference for certainty. We further show that several models, including Epstein and Zin (1989); Chew and Epstein (1990); and Halevy (2008) exhibit such a separation and can account for the overall experimental findings. (JEL C91, D81, D91)
Scope of Project
JEL Classification:
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C91 Design of Experiments: Laboratory, Individual
D81 Criteria for Decision-Making under Risk and Uncertainty
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
C91 Design of Experiments: Laboratory, Individual
D81 Criteria for Decision-Making under Risk and Uncertainty
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
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