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Completed
Risk Aversion and the Subjective Time Discount Rate: A Joint approach
FunderNetherlands Organisation for Scientific Research (NWO)
Duration01 Apr 2004 - 25 Feb 2008
Project code400-03-333
Open Access mandatePublications: NoResearch data: No
Identifiers
Project timeline100%
Description
In this project we consider responses to lottery questions. The responses are bid prices for lottery tickets. The main thesis is that those responses do not only depend on the attitude to risk but on the subjective time discounting mechanism as well. The two mechanisms are simultaneously estimated per individual respondent. The estimated utility functions will be compared to individual estimates derived by alternative estimation methods, viz. the Income Evaluation method and that based on satisfaction questions.
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In this project we consider responses to lottery questions. The responses are bid prices for lottery tickets. The main thesis is that those responses do not only depend on the attitude to risk but on the subjective time discounting mechanism as well. The two mechanisms are simultaneously estimated per individual respondent. The estimated utility functions will be compared to individual estimates derived by alternative estimation methods, viz. the Income Evaluation method and that based on satisfaction questions.
