The Relation between Behavior under Risk and over Time

IF 8.1 1区经济学 Q1 ECONOMICS

American Economic Review-Insights Pub Date : 2020-03-01 DOI:10.1257/AERI.20190051

Anujit Chakraborty, Yoram Halevy, Kota Saito

引用次数: 23

Abstract

The paper establishes a tight relation between nonstandard behaviors in the domains of risk and time, by considering a decision-maker with non-expected utility preferences who believes that only present consumption is certain while any future consumption is uncertain. We provide the first complete characterizations of the two-way relations between the certainty effect and present bias, and between the common ratio effect and temporal reversals. (JEL D11, D15, D81, D91)

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风险下的行为与时间的关系

本文通过考虑具有非预期效用偏好的决策者，建立了风险和时间领域的非标准行为之间的紧密关系，该决策者认为只有当前的消费是确定的，而任何未来的消费都是不确定的。我们首次完整地刻画了确定性效应和当前偏差之间以及共同比率效应和时间反转之间的双向关系。（JEL D11、D15、D81、D91）

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

American Economic Review-Insights ECONOMICS-

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期刊介绍： The journal American Economic Review: Insights (AER: Insights) is a publication that caters to a wide audience interested in economics. It shares the same standards of quality and significance as the American Economic Review (AER) but focuses specifically on papers that offer important insights communicated concisely. AER: Insights releases four issues annually, covering a diverse range of topics in economics.