Compensated Discount Functions : An Experiment on the Influence of Expected Income on Time Preference ∗

@inproceedings{Ambrus2015CompensatedDF,
  title={Compensated Discount Functions : An Experiment on the Influence of Expected Income on Time Preference ∗},
  author={Attila Ambrus and Tinna Laufey {\'A}sgeirsd{\'o}ttir and Jawwad Noor and L{\'a}szl{\'o} S{\'a}ndor},
  year={2015}
}
This paper examines the open empirical question of whether subjects, when choosing among rewards received at different points of time, are influenced by their expected income levels at those times. Moreover, we seek to measure time preferences after compensating for possible income effects. Besides eliciting subjects’ preference between standard delayed rewards, the experimental design also elicited their preferences over delayed rewards that are received only if the subject’s income remains… CONTINUE READING

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