• Corpus ID: 154351687

Income Expectations, Limited Liquidity, and Anomalies in Intertemporal Choice

@inproceedings{Epper2015IncomeEL,
  title={Income Expectations, Limited Liquidity, and Anomalies in Intertemporal Choice},
  author={Thomas Epper},
  year={2015}
}
Intertemporal choices are a ubiquitous part of our economic lives. Decisions about education, savings and health, all involve tradeoffs between costs and benefits materializing at different points in time. Yet, a large body of experimental evidence questions the descriptive validity of the economic benchmark model (exponential discounted utility) by documenting a series of behavioral patterns allegedly violating its key predictions. Observed discount rates typically lie far beyond market… 

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