Advanced Search
MyIDEAS: Login

Does time preference change with age?

Contents:

Author Info

  • David M. Bishai

    ()

Abstract

This study looks at compensating differentials in the National Longitudinal Survey of Youth (NLSY) to derive estimates of the levels of time preference for labor force participants in each of 15 waves of data from 1979 to 1994. With these estimates the evolution of time preference over the life course is described. Future utility among labor force participants appears to be valued more highly by subjects who are older, more schooled, white, or male. Controlling for schooling level, a higher IQ is associated with a preference for more immediate rewards. If social rates of time preference are correlated with individual rates of time preference then population aging could create intergenerational asymmetries in the social rate of time preference. This phenomenon could make the optimal investments of young populations appear selfish to future generations that are older. Copyright Springer-Verlag 2004

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. 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.
File URL: http://hdl.handle.net/10.1007/s00148-004-0187-0
Download Restriction: Access to full text is restricted to subscribers.

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.

Bibliographic Info

Article provided by Springer in its journal Population Economics.

Volume (Year): 17 (2004)
Issue (Month): 4 (December)
Pages: 583-602

as in new window
Handle: RePEc:spr:jopoec:v:17:y:2004:i:4:p:583-602

Contact details of provider:
Phone: +43-70-2468-8236
Fax: +43-70-2468-8238
Email:
Web page: http://link.springer.de/link/service/journals/00148/index.htm
More information through EDIRC

Order Information:
Web: http://link.springer.de/orders.htm

Related research

Keywords: H43; J31; J28; Time preference; compensating differentials; aging;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Delaney, Liam & Doyle, Orla, 2012. "Socioeconomic differences in early childhood time preferences," Journal of Economic Psychology, Elsevier, vol. 33(1), pages 237-247.
  2. Finke, Michael S. & Huston, Sandra J., 2013. "Time preference and the importance of saving for retirement," Journal of Economic Behavior & Organization, Elsevier, vol. 89(C), pages 23-34.
  3. Golsteyn, Bart H.H. & Grönqvist, Hans & Lindahl, Lena, 2013. "Time Preferences and Lifetime Outcomes," IZA Discussion Papers 7165, Institute for the Study of Labor (IZA).
  4. Liam Delaney & Orla Doyle, 2008. "The Early Childhood Determinants Of Time Preferences," Working Papers 200834, Geary Institute, University College Dublin.
  5. Ryan D. Edwards, 2008. "The Cost of Uncertain Life Span," NBER Working Papers 14093, National Bureau of Economic Research, Inc.
  6. Junji Kageyama, 2009. "On the intertemporal allocation of consumption, mortality and life-history strategies," MPIDR Working Papers WP-2009-008, Max Planck Institute for Demographic Research, Rostock, Germany.
  7. Arthur J. Robson & Larry Samuelson, 2009. "The Evolution of Time Preference with Aggregate Uncertainty," Levine's Working Paper Archive 814577000000000087, David K. Levine.
  8. Harrell Chesson & Jami Leichliter & Gregory Zimet & Susan Rosenthal & David Bernstein & Kenneth Fife, 2006. "Discount rates and risky sexual behaviors among teenagers and young adults," Journal of Risk and Uncertainty, Springer, vol. 32(3), pages 217-230, May.
  9. Cyrus Chu, C.Y. & Chien, Hung-Ken & Lee, Ronald D., 2010. "The evolutionary theory of time preferences and intergenerational transfers," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 451-464, December.
  10. Irina Grafova, 2007. "Your Money or Your Life: Managing Health, Managing Money," Journal of Family and Economic Issues, Springer, vol. 28(2), pages 285-303, June.
  11. Junji Kageyama, 2011. "The intertemporal allocation of consumption, time preference, and life-history strategies," Journal of Bioeconomics, Springer, vol. 13(2), pages 79-95, July.
  12. Eric Schniter & Roman M. Sheremeta & Timothy Shields, 2011. "Conflicted Minds: Recalibrational Emotions Following Trust-based Interaction," Working Papers 11-12, Chapman University, Economic Science Institute.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:spr:jopoec:v:17:y:2004:i:4:p:583-602. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.