Intertemporal choices are affected by both discount rate and utility curvature. We investigate how the two aspects of time preference are affected by the size of the total budget using an intertemporal allocation task. At the aggregate level as well as at the individual level, we find magnitude effects both on the discount rate and on intertemporal substitutability (i.e., utility curvature). Individuals are more patient when dealing with larger budgets and also regard larger budgets to be more fungible. The latter effect suggests that the degree of asset integration is increasing in the stake.

中文翻译：

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跨期分配任务中的量级效应

跨期选择受贴现率和效用曲率的影响。我们使用跨期分配任务研究了时间偏好的两个方面如何受到总预算大小的影响。在总体水平和个人水平上，我们发现对贴现率和跨期替代性（即效用曲率）的量级影响。个人在处理更大的预算时更有耐心，也认为更大的预算更具可替代性。后一种效应表明，股权的资产整合程度正在增加。