Time Discounting for Primary and Monetary Rewards
Columbia Business School - Management; Institute for the Study of Labor (IZA)
Northwestern University - Kellogg School of Management - Department of Finance; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)
University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR); University of Chicago - Polsky Center for Entrepreneurship; European Corporate Governance Institute (ECGI)
Economics Letters, Vol. 106, No. 2, pp. 125-127, 2009
This paper reports a positive and statistically significant relation between short-term discount rates elicited with a monetary and a primary reward (chocolate). This finding suggests that high short-term discount rates are related to an underling individual trait.
Number of Pages in PDF File: 9
Keywords: time preferences, hyperbolic discounting, intertemporal choice
JEL Classification: C91, D90, D01
Date posted: October 31, 2011
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