Many discounting choices affect both the decision maker and at least one other person. The interpersonal nature of these choices is not well explored because the current empirical literature primarily focuses on estimating individual discount rates. We design a laboratory experiment to elicit interpersonal discount rates where individuals consider present versus future consumption tradeoffs for cases that involve both the self and others. By allowing for possible presence of others’ welfare in one’s utility function, our estimation results show that interpersonal discount rates are significantly different from traditional individual discount rates, particularly in situations when an individual may trade off his/her own future payment with the current payoff for others. We find support that the distinct interpersonal discount rate reflects a temporal form of other-regarding preferences.

中文翻译：

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人际打折

许多折扣选择会影响决策者和至少一个其他人。这些选择的人际关系性质没有得到很好的探讨，因为当前的经验文献主要集中在估计个人贴现率上。我们设计了一个实验室实验，以得出人与人之间的折现率，在这种情况下，个人会考虑涉及自身和他人的案例的当前与未来消费权衡。通过在他人的效用函数中考虑其他人的福利，我们的估计结果表明，人际折现率与传统的个人折现率存在显着差异，尤其是在个人可能用当前的收益折衷自己的未来付款的情况下为他人。