Advanced Search
MyIDEAS: Login to save this paper or follow this series

Examining predictive models among discounting models

Contents:

Author Info

  • LR. Keller
  • E. Strazzera

Abstract

Both descriptive and normative arguments claim that the discount rate to be applied to public projects should be elicited from individual intertemporal preferences. We present a methodology to analyze data from experimental surveys on intertemporal preferences. Focusing on the exponential and the hyperbolic discounting models, we model the experimental data published by Thaler (1981) by means of different specifications. Standard measures of goodness of prediction are then applied to fitted data to select among alternative specifications. We first present our approach by applying it to simulated data. We then present a procedure for statistical estimation of the sample discount rate, testing four specifications. The estimation procedure we adopt can be easily extended to other functional forms, allowing for non-linearity of the valuation function, inclusion of socio-economic individual characteristics as regressors, and different specifications for the discounting model.

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://crenos.unica.it/crenos/node/149
Download Restriction: no

File URL: http://crenos.unica.it/crenos/sites/all/modules/pubdlcnt/pubdlcnt.php?file=http://crenos.unica.it/crenos/sites/default/files/wp/00-5.pdf&nid=149
Download Restriction: no

Bibliographic Info

Paper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200005.

as in new window
Length:
Date of creation: 2000
Date of revision:
Handle: RePEc:cns:cnscwp:200005

Contact details of provider:
Postal: Via S. Giorgio 12, I-09124 Cagliari
Phone: +70/6756406
Fax: +70/6756402
Email:
Web page: http://www.crenos.unica.it/
More information through EDIRC

Related research

Keywords:

References

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.:
as in new window
  1. R. Marchionatti & S. Usai, 1998. "International technological spillovers and economic growth. The Italian case," Working Paper CRENoS 199806, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  2. S. Lodde, 1999. "Nuova teoria della crescita e sviluppo locale: alcune possibili connessioni," Working Paper CRENoS 199916, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  3. Piacentini Paolo & Sulis G., 2000. "Crescita virtuosa e crescita neodualistica nell'ambito regionale: tendenze recenti per le aree europee in ritardo di sviluppo," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 1, pages 57-98.
  4. S. Lodde, 1999. "Education Growth: Some Disaggregate Evideence from the Italian Regions," Working Paper CRENoS 199911, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  5. A. Lanza & F. Pigliaru, 1999. "Why Are Tourism Countries Small and Fast-Growing?," Working Paper CRENoS 199906, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  6. G. Boero & C. Torricelli, 1997. "The expectations hypothesis of the term structure: Evidence for Germany," Working Paper CRENoS 199704, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  7. R. Diana & E. Serra & E. Strazzera, 1998. "Politiche non sostenibili per lo sviluppo sostenibile. Il caso del parco del Gennargentu," Working Paper CRENoS 199802, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  8. R. Paci, 1999. "L'evoluzione del sistema economico della Sardegna negli anni novanta," Working Paper CRENoS 199907, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  9. S. Lodde, 1997. "Human Capital and Growth in the European Regions. Does Allocation Matter?," Working Paper CRENoS 199706, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  10. Paci Raffaele & Usai Stefano, 2000. "The Role of Specialisation and Diversity Externalities in the Agglomeration of Innovative Activities," Rivista italiana degli economisti, Società editrice il Mulino, issue 2, pages 237-268.
  11. P. Piacentini & P. Pini, 1996. "Domanda, produttività e dinamica occupazionale: un'analisi per," Working Paper CRENoS 199606, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  12. S. Lodde, 2000. "Capitale umano e sviluppo economico: cosa sappiamo in teoria e nei fatti?," Working Paper CRENoS 200003, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  13. P. Calia & E. Strazzera, 1999. "A Sample Selection Model for Protest Non-Response Votes in Contingent Valuation Analyses," Working Paper CRENoS 199905, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  14. R. Paci & F. Pigliaru, 1998. "Growth and sectoral dynamics in the Italian regions," Working Paper CRENoS 199803, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  15. Marzio Galeotti & Alessandro Lanza, 2000. "Desperately Seeking Environmental Kuznets," Development Working Papers 137, Centro Studi Luca d\'Agliano, University of Milano.
  16. F. Pigliaru, 1999. "Detecting Technological Catch-Up in Economic Convergence," Working Paper CRENoS 199902, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  17. L. Deidda, 1999. "Interaction between Economic and Financial Development," Working Paper CRENoS 199913, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  18. R. Paci & Riccardo Rovelli, . "Do Trade and Technology reduce asymmetries? Evidence from manufacturing industries in the EU," Working Papers 109, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  19. Raffaele Paci & Stefano Usai, 2000. "Technological Enclaves and Industrial Districts: An Analysis of the Regional Distribution of Innovative Activity in Europe," Regional Studies, Taylor & Francis Journals, vol. 34(2), pages 97-114.
  20. A. Di Liberto & J. Symons, 1998. "Human capital stocks and the development of Italian regions. A panel approach," Working Paper CRENoS 199804, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  21. R. Paci, 1996. "More similar and less equal. Economic growth in the European regions," Working Paper CRENoS 199609, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  22. E. Strazzera, 1998. "Option values and flexibility preference," Working Paper CRENoS 199807, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  23. Pigliaru, Francesco & Paci, Raffaele, 2000. "Technological Catch-Up And Regional Convergence In Europe," ERSA conference papers ersa00p22, European Regional Science Association.
  24. R. Paci & F. Pigliaru, 1997. "Is dualism still a source of convergence in Europe?," Working Paper CRENoS 199705, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  25. S. Baranzoni & P. Bianchi & L. Lambertini, 2000. "Market Structure," Working Papers 368, Dipartimento Scienze Economiche, Universita' di Bologna.
  26. S. Lodde & A. Sassu, 2000. "Saperi locali, innovazione tecnologica e sviluppo economico: indagine su un campione di imprese sarde," Working Paper CRENoS 200004, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  27. Pinuccia Calia & Elisabetta Strazzera, 1999. "Bias and Efficiency of Single vs Double Bound Models for Contingent Valuation Studies.A Monte Carlo Analysis," Working Papers 1999.10, Fondazione Eni Enrico Mattei.
  28. G. Boero & E. Marrocu, 1999. "Modelli non lineari per i tassi di cambio: un confronto previsivo," Working Paper CRENoS 199914, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  29. Paci, Raffaele & Usai, Stefano, 2000. "Externalities, Knowledge Spillovers And The Spatial Distribution Of Innovation," ERSA conference papers ersa00p104, European Regional Science Association.
  30. Lodde Sergio, 2000. "Nuova teoria della crescita e sviluppo locale: alcune possibili connessioni," Rivista economica del Mezzogiorno, Società editrice il Mulino, issue 1, pages 145-166.
  31. R. Paci & F. Pigliaru, 1997. "European regional growth: do sectors matter?," Working Paper CRENoS 199703, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  32. Robin Naylor, 1999. "Endogenous determination of trade regime and bargaining outcome," CSGR Working papers series 40/99, Centre for the Study of Globalisation and Regionalisation (CSGR), University of Warwick.
  33. repec:rie:review:v:5:y:2000:i:2:n:2 is not listed on IDEAS
  34. G. Boero & C. Torricelli, 1999. "The Information in the Term of Structure: further Results for Germany," Working Paper CRENoS 199912, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  35. F. Pigliaru, 1996. "Economia del turismo: note su crescita, qualità ambientale e sostenibilità," Working Paper CRENoS 199612, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
  36. R. Carcangiu & G. Sistu & S. Usai, 1999. "Struttura socio-economica dei comuni della Sardegna. Suggerimenti da un’analisi cluster," Working Paper CRENoS 199903, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
Full references (including those not matched with items on IDEAS)

Citations

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:cns:cnscwp:200005. 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: (Antonello Pau).

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.