TY  - RPRT
        AU  - Dohmen, Thomas
AU  - Falk, Armin
AU  - Huffman, David B.
AU  - Sunde, Uwe
        TI  - Interpreting Time Horizon Effects in Inter-Temporal Choice
        PY  - 2012/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 6385
        UR  - https://www.iza.org/index.php/publications/dp6385
        AB  - We compare different designs that have been used to test for an impact of time horizon on discounting, using real incentives and two representative data sets. With the most commonly used type of design we replicate the typical finding of declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not consistent with any of these usual candidate discounting assumptions, and they also imply a violation of transitivity. The results have implications for interpreting previous evidence, and pose an important puzzle for understanding inter-temporal choice.
        KW  - time preference
KW  - hyperbolic discounting
KW  - self-control
KW  - dynamic inconsistency
KW  - intransitivity
        ER  -