This study examines the relationship between time discounting, other sources of time preference, and choices about smoking. Using a survey fielded for our analysis, we elicit rates of time discount from choices in financial and health domains. We also examine the relationship between other determinants of time preference and smoking status. We find very high rates of time discount in the financ...

In order to elicit discount functions, experiments commonly analyze how subjects trade-off money and time. However, discounting reveals itself directly only in behavior obtained by fixing the money dimension and varying the time dimension. This paper presents an experimental procedure that, in a sense made precise, better identifies the discount function. The procedure is based on a general the...

We study the growth process among a large group of economies where consumption relative to reference determines discount factor household agents. characterize all possible balanced paths and their stability properties. The model can explain why two having similar production technologies, preferences, total productivity rates differ in labor supply behavior have diverging depending on initial co...

We give an axiomatic characterization of the Time-Preference Nash Solution, a bargaining solution that is applied when the underlying preferences are defined over streams of physical outcomes. This bargaining solution is similar to the ordinal Nash solution introduced by Rubinstein, Safra, and Thomson (1992), but it gives a different prediction when the set of physical outcomes is a set of lott...