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Changing Time Attitudes in Intertemporal Analysis

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  • Peter J. Barry
  • Lindon J. Robison
  • Gilbert V. Nartea

Abstract

Intertemporal analysis is extended by generalizing the time weight function of an investor's utility function to account for changes in time attitudes. The resulting measures of decreasing, constant, and increasing time attitudes are comparable to the Arrow-Pratt measures of risk attitudes. They help to enrich intertemporal theory, provide meaningful hypotheses for testing, and broaden the scope for decision analysis over time. Effects of the time attitude measures are illustrated in a model of an agricultural firm. Copyright 1996, Oxford University Press.

Suggested Citation

  • Peter J. Barry & Lindon J. Robison & Gilbert V. Nartea, 1996. "Changing Time Attitudes in Intertemporal Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 972-981.
    • Handle: RePEc:oup:ajagec:v:78:y:1996:i:4:p:972-981
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    File URL: http://hdl.handle.net/10.2307/1243853
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    Cited by:

    1. Duquette, Eric & Higgins, Nathaniel & Horowitz, John, 2013. "Time Preference and Technology Adoption: A Single-Choice Experiment with U.S. Farmers," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150719, Agricultural and Applied Economics Association.
    2. OUATTARA, Aboudou & DE LA BRUSLERIE, Hubert, 2015. "The term structure of psychological discount rate: characteristics and functional forms," MPRA Paper 75111, University Library of Munich, Germany.
    3. Fernandez, Linda, 2006. "Natural resources, agriculture and property rights," Ecological Economics, Elsevier, vol. 57(3), pages 359-373, May.
    4. Frechette, Darren L. & Wen, Fang-I, 2002. "Risk Aversion, Uncertainty Aversion, And Variation Aversion In Applied Commodity Price Analysis," 2002 Conference, April 22-23, 2002, St. Louis, Missouri 19062, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.

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