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Testable Implications of Models of Intertemporal Choice: Exponential Discounting and Its Generalizations
American Economic Journal: Microeconomics ( IF 2.2 ) Pub Date : 2020-11-01 , DOI: 10.1257/mic.20180028
Federico Echenique 1 , Taisuke Imai 2 , Kota Saito 1
Affiliation  

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.

中文翻译:

跨期选择模型的可检验含义:指数贴现及其推广

我们展示了最常见的跨期选择模型的显示偏好特征:指数贴现凹效用模型及其一些概括。我们的特征将消费数据作为原语,并提供非参数显示偏好测试。我们将我们的测试应用于最近两次实验的数据,发现我们的公理化提供了对传统参数方法分析过的数据集的新见解和观点。
更新日期:2020-11-01
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