Data and code for: "Testable Implications of Models of Intertemporal Choice: Exponential Discounting and Its Generalizations"
Principal Investigator(s): View help for Principal Investigator(s) Federico Echenique, California Institute of Technology; Taisuke Imai, LMU Munich; Kota Saito, California Institute of Technology
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| code | 01/21/2020 07:30:AM | ||
| data | 01/21/2020 07:25:AM | ||
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application/pdf | 162.2 KB | 01/21/2020 02:42:AM |
Project Citation:
Echenique, Federico, Imai, Taisuke, and Saito, Kota. Data and code for: “Testable Implications of Models of Intertemporal Choice: Exponential Discounting and Its Generalizations.” Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-10-20. https://doi.org/10.3886/E116902V1
Project Description
Summary:
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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.
Funding Sources:
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National Science Foundation (SES~1558757);
National Science Foundation (CNS-1518941);
Deutsche Forschungsgemeinschaft (Germany)
Scope of Project
Subject Terms:
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exponential discounting;
intertemporal choice;
revealed preference
JEL Classification:
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D15 Intertemporal Household Choice; Life Cycle Models and Saving
D90 Micro-Based Behavioral Economics: General
D15 Intertemporal Household Choice; Life Cycle Models and Saving
D90 Micro-Based Behavioral Economics: General
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