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Mixing discount functions: Implications for collective time preferences
16 references·0 citing·38 second hop
Mixing discount functions: Implications for collective time preferences (2019)Mixing discount functions: Implications f…Non-parametric Test of Time Consistency: Present Bias and Future Bias (2016)Non-parametric Test of Time C…Time Consistency: Stationarity and Time Invariance (2015)Time Consistency: Stationarit…Present Bias and Collective Dynamic Choice in the Lab (2012)Present Bias and Collective D…Collective Dynamic Choice: The Necessity of Time Inconsistency (2011)Collective Dynamic Choice: Th…Non-parametric test of time consistency: Present bias and future bias (2010)Non-parametric test of time c…How should the distant future be discounted when discount rates are uncertain? (2010)How should the distant future…Decreasing Impatience: A Criterion for Non‐stationary Time Preference and “Hyperbolic” Discounting (2004)Decreasing Impatience: A Crit…Time Discounting and Time Preference: A Critical Review (2002)Time Discounting and Time Pre…Rationalizing hyperbolic discounting (1999)Rationalizing hyperbolic disc…Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate (1998)Why the Far-Distant Future Sh…The paradox of the Bayesian experts and state-dependent utility theory (1998)The paradox of the Bayesian e…On hyperbolic discounting and uncertain hazard rates (1998)On hyperbolic discounting and…Consistent Bayesian Aggregation (1995)Consistent Bayesian Aggregati…Time Preference (1982)Time PreferenceRisk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Golden Eggs and Hyperbolic Discounting (1997)Perception of anticipatory time in temporal discounting. (2009)Discounting behavior: A reconsideration (2014)Beyond Willpower: Strategies for Reducing Failures of Self-Control (2018)Anomalies in Intertemporal Choice: Evidence and an Interpretation (1992)The marginal damage costs of carbon dioxide emissions: an assessment of the uncertainties (2004)Comprehensive evidence implies a higher social cost of CO2 (2022)Stationary Ordinal Utility and Impatience (1960)Tying Odysseus to the Mast: Evidence From a Commitment Savings Product in the Philippines (2006)Eliciting Risk and Time Preferences (2008)An Experiment on Time Preference and Misprediction in Unpleasant Tasks (2018)Intertemporal choice (2019)Experimental methods: Eliciting beliefs (2021)Myopia and Inconsistency in Dynamic Utility Maximization (1955)Myopia and Inconsistency in Dynamic Utility Maximization (1973)Specious reward: A behavioral theory of impulsiveness and impulse control. (1975)The ecology and evolution of patience in two New World monkeys (2005)Uncertainty and Hyperbolic Discounting (2005)Discounting climate change (2008)Prospect theory: An analysis of decision under risk (1988)Loss Aversion in Riskless Choice: A Reference-Dependent Model (1991)Field Experiments (2004)Cognitive Reflection and Decision Making (2005)Psychology and Economics: Evidence from the Field (2009)Gamma Discounting (2001)Discounting the distant future: how much do uncertain rates increase valuations? (2003)Targets for global climate policy: An overview (2013)Monetary valuation of the social cost of CO 2 emissions: A critical survey (2015)Social, Economic, and Ethical Concepts and Methods (2015)Chapter 11 Utilitarianism and the theory of justice (2002)The theory of judgment aggregation: an introductory review (2011)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)Ramsey Meets Laibson in the Neoclassical Growth Model (1999)The Fragility of Time: Time-Insensitivity and Valuation of the Near and Far Future (2007)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
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References

  • 2002Time Discounting and Time Preference: A Critical Review6,395 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1998Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate962 cited
  • 2010How should the distant future be discounted when discount rates are uncertain?320 cited
  • 1982Time Preference291 cited
  • 1998On hyperbolic discounting and uncertain hazard rates280 cited
  • 2004Decreasing Impatience: A Criterion for Non‐stationary Time Preference and “Hyperbolic” Discounting243 cited
  • 1995Consistent Bayesian Aggregation231 cited
  • 2015Time Consistency: Stationarity and Time Invariance204 cited
  • 2011Collective Dynamic Choice: The Necessity of Time Inconsistency202 cited
  • 2012Present Bias and Collective Dynamic Choice in the Lab137 cited
  • 1999Rationalizing hyperbolic discounting117 cited
  • 2010Non-parametric test of time consistency: Present bias and future bias109 cited
  • 2016Non-parametric Test of Time Consistency: Present Bias and Future Bias79 cited
  • 1998

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The paradox of the Bayesian experts and state-dependent utility theory
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