A direct test of hyperbolic discounting using market asset data

C-Tier
Journal: Economics Letters
Year: 2011
Volume: 112
Issue: 3
Pages: 290-292

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper introduces a framework that generalizes exponential discounting in a net present value model by including a quasi-hyperbolic discount parameter in the asset valuation equation. Using observed market asset data, a statistically significant quasi-hyperbolic parameter is obtained, thus rejecting exponential discounting.

Technical Details

RePEc Handle
repec:eee:ecolet:v:112:y:2011:i:3:p:290-292
Journal Field
General
Author Count
2
Added to Database
2026-01-26