Estimating Individual Discount Rates in Denmark: A Field Experiment
American Economic ReviewPublished 1 November 2002Open access
Glenn W. Harrison, Morten I. Lau, Melonie B. Williams
Citations978
SJR quartileQ1
SJR score25.10
SNIP6.91
Generate an AI Snapshot to get a quick, structured summary of this paper.
Study Snapshot
ObjectiveStudy objective
MethodsResearch methodology
PopulationPopulation studied
Sample sizeSample sizes
OutcomesStudy outcomes here
ResultsStudy results comes here
LimitationsResearch study limitations comes here
A concise AI-generated summary of the paper will appear here once you click Generate AI Snapshot.
Abstract
Estimating Individual Discount Rates in Denmark: A Field Experiment by Glenn W. Harrison, Morten I. Lau and Melonie B. Williams. Published in volume 92, issue 5, pages 1606-1617 of American Economic Review, December 2002
Keywords
Economics, Econometrics and FinanceBusiness, Management and Accounting
Economics LettersSome empirical evidence on dynamic inconsistency
2,261 Citations1981Richard H. Thaler
The Economic JournalAnticipation and the Valuation of Delayed Consumption
1,322 Citations1987George Loewenstein
Psychological ScienceDiscounting of Delayed Rewards: A Life-Span Comparison
1,179 Citations1994Leonard Green, Astrid F. Fry +1 more
Management ScienceDiscount Rates Inferred from Decisions: An Experimental Study
935 Citations1989Uri Ben‐Zion, Amnon Rapoport +1 more
Psychonomic Bulletin & ReviewDelay-discounting probabilistic rewards: Rates decrease as amounts increase
927 Citations1996Kris N. Kirby, Nino N. Maraković
The data indicated that the discounting rate is a decreasing function of the size of the delayed reward (p < .0001), whether hyperbolic or exponential discounting functions are assumed.
Journal of the Experimental Analysis of BehaviorDISCOUNTING OF DELAYED REWARDS: MODELS OF INDIVIDUAL CHOICE
853 Citations1995Joel Myerson, Leonard Green
Two possible derivations of the temporal discounting function are proposed, a repeated choice model and an expected value model, which provide theoretical interpretations for amount-dependent discounting but amount-independent exponent parameters.
American Economic ReviewThe Failure of Competition in the Credit Card Market
789 Citations1991Lawrence M. Ausubel
Journal of Experimental Psychology GeneralBidding on the future: Evidence against normative discounting of delayed rewards.
754 Citations1997Kris N. Kirby
American Economic ReviewThe Personal Discount Rate: Evidence from Military Downsizing Programs
615 Citations2001John T. Warner, Saul Pleeter
Psychological SciencePreference Reversals Due to Myopic Discounting of Delayed Reward
607 Citations1995Kris N. Kirby, R. J. Herrnstein
The stationarity axiom is not appropriate in models of human choice because it reverses preference from a larger, later reward to a smaller, earlier reward as the delays to both rewards decreased.
Experimental EconomicsEliciting individual discount rates
553 Citations1999Maribeth Coller, Melonie B. Williams
Experimental EconomicsEliciting Individual Discount Rates
440 Citations1999Maribeth Coller, Melonie B. Williams
Journal of Development EconomicsDiscount rates and credit markets: Theory and evidence from rural india
345 Citations1996John Pender
Perception & PsychophysicsMisperception of exponential growth
297 Citations1975W.A. Wagenaar, Sabato D. Sagaria
Subjects’ extrapolations are well described by a model with two parameters only: one for underestimation of the nonlinear growth, the other for linear compensation; the size is considerable; it is not unusual that two-thirds of the subjects produce estimates below 10% of the normative value.
American Economic ReviewTheory and Misbehavior of First-Price Auctions
285 Citations1987Glenn W. Harrison
Management ScienceOutcome Signs, Question Frames and Discount Rates
186 Citations1993Marjorie K. Shelley
American Economic ReviewTheory and Misbehavior of First-Price Auctions: Reply
144 Citations1992Glenn W. Harrison
Managerial and Decision EconomicsRisk tolerance in the present and the future: an experimental study
102 Citations2006Charles Noussair, P.C. Wu
Rationality and SocietyAnother Experimental Look at Individual Time Preference
102 Citations1992James H. Holcomb, Paul S. Nelson
Environmental and Resource EconomicsLaboratory Testbeds and Non-Market Valuation: The Case of Bidding Behavior in a Second-Price Auction with an Outside Option
58 Citations2004Todd L. Cherry, Peter Frykblom +3 more
OSTI OAI (U.S. Department of Energy Office of Scientific and Technical Information)ENERGY EFFICIENCY CHOICE IN THE PURCHASE OF RESIDENTIAL APPLIANCES
52 Citations1984H. Ruderman, Levine +1 more
RePEc: Research Papers in EconomicsMYOPIC DISCOUNTING: EMPIRICAL EVIDENCE
24 Citations1988Gordon C. Winston, R.G. Woodburry