Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/287264 
Year of Publication: 
2021
Citation: 
[Journal:] Experimental Economics [ISSN:] 1573-6938 [Volume:] 25 [Issue:] 2 [Publisher:] Springer US [Place:] New York, NY [Year:] 2021 [Pages:] 593-623
Publisher: 
Springer US, New York, NY
Abstract: 
Intertemporal choices are affected by both discount rate and utility curvature. We investigate how the two aspects of time preference are affected by the size of the total budget using an intertemporal allocation task. At the aggregate level as well as at the individual level, we find magnitude effects both on the discount rate and on intertemporal substitutability (i.e., utility curvature). Individuals are more patient when dealing with larger budgets and also regard larger budgets to be more fungible. The latter effect suggests that the degree of asset integration is increasing in the stake.
Subjects: 
Time preference
Magnitude effect
Convex Time Budget method
Asset integration
JEL: 
C91
D12
D91
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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