通过参数恢复模拟研究凸时间预算实验

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Behavioral and Experimental Finance Pub Date : 2024-07-26 DOI:10.1016/j.jbef.2024.100962

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引用次数: 0

摘要

凸时间预算（CTB）法是在跨时选择问题中激发个人时间偏好的一种广泛使用的实验技术。本文研究了 CTB 实验中准双曲贴现效用函数中贴现因子参数和现时偏差参数估计的准确性。在本文中，我们使用了一种名为 "参数恢复 "的模拟技术。我们发现，在之前报告的参数估计范围内，现时偏差参数估计的精度很低，因此很难检测到现时偏差的影响。我们的结果建议不要将 CTB 实验任务和准双曲折现效用模型结合起来使用，以探究现时偏差的影响。

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Investigation of the convex time budget experiment by parameter recovery simulation

The convex time budget (CTB) method is a widely used experimental technique for eliciting an individual’s time preference in intertemporal choice problems. This paper investigates the accuracy of the estimation of the discount factor parameter and the present bias parameter in the quasi-hyperbolic discounted utility function for the CTB experiment. In this paper, we use a simulation technique called “parameter recovery”. We found that the precision of present bias parameter estimation is poor within the range of previously reported parameter estimates, making it difficult to detect the effect of present bias. Our results recommend against using a combination of the CTB experimental task and the quasi-hyperbolic discounted utility model to explore the effect of present bias.

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来源期刊

Journal of Behavioral and Experimental Finance BUSINESS, FINANCE-

CiteScore

13.20

自引率

6.10%

发文量

审稿时长

69 days

期刊介绍： Behavioral and Experimental Finance represent lenses and approaches through which we can view financial decision-making. The aim of the journal is to publish high quality research in all fields of finance, where such research is carried out with a behavioral perspective and / or is carried out via experimental methods. It is open to but not limited to papers which cover investigations of biases, the role of various neurological markers in financial decision making, national and organizational culture as it impacts financial decision making, sentiment and asset pricing, the design and implementation of experiments to investigate financial decision making and trading, methodological experiments, and natural experiments. Journal of Behavioral and Experimental Finance welcomes full-length and short letter papers in the area of behavioral finance and experimental finance. The focus is on rapid dissemination of high-impact research in these areas.