A note on three factor model of discounting
Data(s) |
07/06/2016
07/06/2016
01/05/2016
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Resumo |
In Montiel Olea and Strzalecki (2014), authors have axiomatically developed an algorithm to infer the parameters of beta-delta model of cognitive bias (present and future biases). While this is extremely useful, it allows the implied beta to become very large when the response is impatient in the future choices relative to present choices, i.e., when there is a strong future bias. I modify the model to further exponentiate the functional form to get more reasonable beta values. |
Identificador |
IDE Discussion Paper. No. 605. 2016.5 http://hdl.handle.net/2344/1566 IDE Discussion Paper 605 |
Idioma(s) |
en eng |
Publicador |
Institute of Developing Economies, JETRO 日本貿易振興機構アジア経済研究所 |
Palavras-Chave | #Consumption #Consumers #Psychology #Discount factor #Experimental method #331.87 #G World,others #C91 - Laboratory, Individual Behavior #D99 - Other |
Tipo |
Working Paper Technical Report |