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Time Discounting and Time Preference: A Critical Review
This paper discusses the discounted utility (DU) model: its historical development, underlying assumptions, and "anomalies" - the empirical regularities that are inconsistent with its theoreticalExpand
Doing It Now or Later
Though economists assume that intertemporal preferences are time-consistent, evidence suggests that a person's relative preference for well-being at an earlier moment over a later moment increases asExpand
Regulation for Conservatives: Behavioral Economics and the Case for 'Asymmetric Paternalism'
Regulation by the state can take a variety of forms. Some regulations are aimed entirely at redistribution, such as when we tax the rich and give to the poor. Other regulations seek to counteractExpand
Projection Bias in Predicting Future Utility
People underappreciate how their own behavior and exogenous factors affect their future utility, and thus exaggerate the degree to which their future preferences resemble their current preferences.Expand
Neuroeconomics : How Neuroscience Can Inform Economics
Who knows what I want to do? Who knows what anyone wants to do? How can you be sure about something like that? Isn’t it all a question of brain chemistry, signals going back and forth, electricalExpand
The Nature of Risk Preferences: Evidence from Insurance Choices
We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates "standard" risk aversion (diminishing marginal utility for wealth) and probabilityExpand
Choice and Procrastination
A model where a person chooses from a menu of options and is partially aware of her self-control problems is developed, and this menu model replicates earlier results and generates new ones. Expand
Incentives for Procrastinators
We examine how principals should design incentives to induce time-inconsistent procrastinating agents to complete tasks efficiently. Delay is costly to the principal, but the agent faces stochasticExpand
Patents in a Model of Endogenous Growth
This paper examines patent protection in an endogenous-growth model. Our aim is twofold. First, we show how the patent policies discussed by the recent patent-design literature can influence R&D inExpand
Optimal Sin Taxes
Abstract We investigate “sin taxes” on unhealthy items, such as fatty foods, that people may (by their own reckoning) consume too much of. We employ a standard optimal-taxation framework, but replaceExpand