This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Hypothetical Intertemporal Consumption Choices Author info | Abstract | Publisher info | Download info | Related research | Statistics Arie Kapteyn (Tilburg University)
Federica Teppa (RAND)
Additional information is available for the following
registered author(s):
The paper extends and replicates part of the analysis by Barsky et al. (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal substitution elasticities and rates of time preference. We use a new and much larger dataset than Barsky et al. Furthermore, we estimate structural models of intertemporal choice, while parameterising the parameters of interest as a function of relevant individual characteristics. We also consider "behavioural" extensions, like habit formation. Models with habit formation appear to be superior to models with intertemporally additive preferences. Copyright Royal Economic Society 2003
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by Royal Economic Society in its journal Economic Journal .
Volume (Year): 113 (2003)
Issue (Month): 486 (March)
Pages: C140-C152
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:ecj:econjl:v:113:y:2003:i:486:p:c140-c152Contact details of provider: Web page: http://www.res.org.uk/ More information through EDIRC
Order Information: Web: http://www.blackwellpublishers.co.uk/asp/journal.asp?ref=0013-0133
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Keywords: Other versions of this item:
Paper Kapteyn, Arie & Federica Teppa, 2002.
"Hypothetical Intertemporal Consumption Choices ,"
Royal Economic Society Annual Conference 2002
111, Royal Economic Society.
[Downloadable!] Kapteyn, A. & Teppa, F., 2001.
"Hypothetical intertemporal consumption choices ,"
Discussion Paper
31, Tilburg University, Center for Economic Research.
[Downloadable!] References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Jerry A. Hausman, 1979.
"Individual Discount Rates and the Purchase and Utilization of Energy-Using Durables ,"
Bell Journal of Economics ,
The RAND Corporation, vol. 10(1), pages 33-54, Spring.
[Downloadable!] (restricted)
Hall, Robert E, 1988.
"Intertemporal Substitution in Consumption ,"
Journal of Political Economy ,
University of Chicago Press, vol. 96(2), pages 339-57, April.
[Downloadable!] (restricted)
Other versions: Lawrance, Emily C, 1991.
"Poverty and the Rate of Time Preference: Evidence from Panel Data ,"
Journal of Political Economy ,
University of Chicago Press, vol. 99(1), pages 54-77, February.
[Downloadable!] (restricted)
Loewenstein, George & Thaler, Richard H, 1989.
"Intertemporal Choice ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 3(4), pages 181-93, Fall.
[Downloadable!] (restricted)
Spinnewyn, Frans, 1981.
"Rational habit formation ,"
European Economic Review ,
Elsevier, vol. 15(1), pages 91-109.
[Downloadable!] (restricted)
Robert B. Barsky & Miles S. Kimball & F. Thomas Juster & Matthew D. Shapiro, 1997.
"Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Survey ,"
NBER Working Papers
5213, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
N. Gregory Mankiw & Stephen P. Zeldes, 1991.
"The Consumption of Stockholders and Non-Stockholders ,"
NBER Working Papers
3402, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Mankiw, N.G. & Zeldes, S.P., 1990.
"The Consumption Of Stockholders And Non-Stockholders ,"
Weiss Center Working Papers
23-90, Wharton School - Weiss Center for International Financial Research.
Mankiw, N. Gregory & Zeldes, Stephen P., 1991.
"The consumption of stockholders and nonstockholders ,"
Journal of Financial Economics ,
Elsevier, vol. 29(1), pages 97-112, March.
[Downloadable!] (restricted) Atkeson, Andrew & Ogaki, Masao, 1996.
"Wealth-varying intertemporal elasticities of substitution: Evidence from panel and aggregate data ,"
Journal of Monetary Economics ,
Elsevier, vol. 38(3), pages 507-534, December.
[Downloadable!] (restricted)
Other versions: Donkers, Bas & van Soest, Arthur, 1999.
"Subjective measures of household preferences and financial decisions ,"
Journal of Economic Psychology ,
Elsevier, vol. 20(6), pages 613-642, December.
[Downloadable!] (restricted)
Donkers, Bas & Melenberg, Bertrand & Van Soest, Arthur, 2001.
" Estimating Risk Attitudes Using Lotteries: A Large Sample Approach ,"
Journal of Risk and Uncertainty ,
Springer, vol. 22(2), pages 165-95, March.
[Downloadable!] (restricted)
Other versions: Masao Ogaki & Andrew Atkeson, 1997.
"Rate Of Time Preference, Intertemporal Elasticity Of Substitution, And Level Of Wealth ,"
The Review of Economics and Statistics ,
MIT Press, vol. 79(4), pages 564-572, November.
[Downloadable!] (restricted)
Barsky, Robert B, et al, 1997.
"Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 112(2), pages 537-79, May.
Hammond, Peter J, 1976.
"Changing Tastes and Coherent Dynamic Choice ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 43(1), pages 159-73, February.
[Downloadable!] (restricted)
Peleg, Bezalel & Yaari, Menahem E, 1973.
"On the Existence of a Consistent Course of Action when Tastes are Changing ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 40(3), pages 391-401, July.
[Downloadable!] (restricted)
David I. Laibson & Andrea Repetto & Jeremy Tobacman, 1998.
"Self-Control and Saving for Retirement ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 29(1998-1), pages 91-196.
[Downloadable!]
Thaler, Richard H & Shefrin, H M, 1981.
"An Economic Theory of Self-Control ,"
Journal of Political Economy ,
University of Chicago Press, vol. 89(2), pages 392-406, April.
[Downloadable!] (restricted)
Other versions: Blackorby, Charles, et al, 1973.
"Consistent Intertemporal Decision Making ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 40(2), pages 239-48, April.
[Downloadable!] (restricted)
Christopher D Carroll, 2000.
"Solving Consumption Models with Multiplicative Habits ,"
Economics Working Paper Archive
421, The Johns Hopkins University,Department of Economics.
[Downloadable!]
Other versions: Kooreman, Peter, 1995.
"Individual discounting and the purchase of durables with random lifetimes ,"
Economics Letters ,
Elsevier, vol. 48(1), pages 29-32, April.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Kapteyn, A. & Kleinjans, K. & Soest, A.H.O. van, 2008.
"Intertemporal Consumption with Directly Measured Welfare Functions and Subjective Expectations ,"
Discussion Paper
2008-85, Tilburg University, Center for Economic Research.
[Downloadable!]
Other versions: Martin Salm, 2006.
"Can Subjective Mortality Expectations and Stated Preferences Explain Varying Consumption and Saving Behaviors among the Elderly? ,"
IZA Discussion Papers
2467, Institute for the Study of Labor (IZA).
[Downloadable!]
Other versions: Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutstrom, 2004.
"Estimating Risk Attitudes in Denmark: A Field Experiment ,"
Artefactual Field Experiments
0050, The Field Experiments Website.
[Downloadable!]
Atkinson, Giles D. & Dietz, Simon & Helgeson, Jennifer & Hepburn, Cameron & Sælen, Håkon, 2009.
"Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change ,"
Economics Discussion Papers
2009-14, Kiel Institute for the World Economy.
[Downloadable!]
Other versions:
Helgeson, Jennifer & Dietz, Simon & Atkinson, Giles D. & Hepburn, Cameron & Sælen, Håkon, 2009.
"Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change ,"
Economics - The Open-Access, Open-Assessment E-Journal ,
Kiel Institute for the World Economy, vol. 3(26), pages 1-28.
[Downloadable!] Hakon Saelen & Giles Atkinson & Simon Dietz & Jennifer Helgeson & Cameron Hepburn, 2008.
"Risk,inequality and time in the welfare economics of climate change: is the workhorse model underspecified? ,"
Economics Series Working Papers
400, University of Oxford, Department of Economics.
[Downloadable!]
E. Elisabet Rutstrom & Glenn W. Harrison & Morten I. Lau, 2004.
"Estimating Risk Attitudes in Denmark ,"
Econometric Society 2004 Australasian Meetings
201, Econometric Society.
[Downloadable!]
Binswanger, J. & Schunk, D., 2008.
"What is an Adequate Standard of Living During Retirement? ,"
Discussion Paper
2008-82, Tilburg University, Center for Economic Research.
[Downloadable!]
Other versions:
Schunk, Daniel & Binswanger, Johannes, 2008.
"What is an Adequate Standard of Living during Retirement? ,"
Sonderforschungsbereich 504 Publications
08-48, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
Johannes Binswanger & Daniel Schunk, 2008.
"What is an adequate standard of living during retirement? ,"
MEA discussion paper series
08171, Mannheim Research Institute for the Economics of Aging (MEA), University of Mannheim.
[Downloadable!]
Access and
download statistics Did you know? You too can volunteer for RePEc, for example by editing a NEP report.
This page was last updated on 2009-11-12.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .