Measuring Discounting without Measuring Utility
- (pp. 1476-94)
Abstract
We introduce a new method to measure the temporal discounting of money. Unlike preceding methods, our method requires neither knowledge nor measurement of utility. It is easier to implement, clearer to subjects, and requires fewer measurements than existing methods.Citation
Attema, Arthur E., Han Bleichrodt, Yu Gao, Zhenxing Huang, and Peter P. Wakker. 2016. "Measuring Discounting without Measuring Utility." American Economic Review, 106 (6): 1476-94. DOI: 10.1257/aer.20150208Additional Materials
JEL Classification
- C91 Design of Experiments: Laboratory, Individual
- D11 Consumer Economics: Theory
- D12 Consumer Economics: Empirical Analysis
- D15 Intertemporal Household Choice; Life Cycle Models and Saving