Intertemporal choice and the magnitude effect

  • Jawwad Noor
  • Published 2011 in Games and Economic Behavior

Abstract

A robust …nding in experiments on time preference is the magnitude effect: subjects tend to be more patient towards larger rewards. Using a calibration theorem, we argue against standard curvature-based explanations for the …nding. We axiomatize a model of preferences over dated rewards that generalizes the standard exponential discounting model by… (More)
DOI: 10.1016/j.geb.2010.06.006

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