The Relations between behavior under risk and over time
By: Chakraborty, Anujit, Yoram Halevy, and Kota Saito
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Material type: 
BookPublisher: The American Economic Review: Insights Description: 2(1), Mar, 2020: p.1-16.Subject(s): Intertemporal Household Choice, Life Cycle Models and Saving
In:
The American Economic Review: InsightsSummary: The paper establishes a tight relation between nonstandard behaviors in the domains of risk and time, by considering a decision-maker with non-expected utility preferences who believes that only present consumption is certain while any future consumption is uncertain. We provide the first complete characterizations of the two-way relations between the certainty effect and present bias, and between the common ratio effect and temporal reversals.- Reproduced
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Articles
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Indian Institute of Public Administration | 2(1), Mar, 2020: p.1-16 | Available | AR123432 |
The paper establishes a tight relation between nonstandard behaviors in the domains of risk and time, by considering a decision-maker with non-expected utility preferences who believes that only present consumption is certain while any future consumption is uncertain. We provide the first complete characterizations of the two-way relations between the certainty effect and present bias, and between the common ratio effect and temporal reversals.- Reproduced
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