WP 2010-19 Preferences Over Social Risk

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Published in 2013 in Oxford Economic Papers, Volume 65, Issue 1.

ABSTRACT. We elicit individual preferences over social risk. We identify the extent to which these preferences are correlated with individual preferences over individual risk and individual preferences over the well-being of others. We examine these preferences in the context of… more »

WP 2010-09 Latent Process Heterogeneity in Discounting Behavior

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Published in 2012 in Oxford Economic Papers, Volume 64, Issue 2.

ABSTRACT. We show that observed choices in discounting experiments are consistent with roughly one-half of the subjects using exponential discounting and one-half using quasi-hyperbolic discounting. We characterize the latent data generating process using a mixture model which allows different subjects… more »