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

B-Tier
Journal: American Economic Journal: Microeconomics
Year: 2020
Volume: 12
Issue: 4
Pages: 114-43

Authors (3)

Federico Echenique (University of California-Berke...) Taisuke Imai (not in RePEc) Kota Saito (not in RePEc)

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

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

Abstract

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.

Technical Details

RePEc Handle
repec:aea:aejmic:v:12:y:2020:i:4:p:114-43
Journal Field
General
Author Count
3
Added to Database
2026-01-25