Measuring Discounting without Measuring Utility

In: American economic review, Band 106, Heft 6, S. 1476-1494

Abstract

We introduce a new method to measure the temporal discounting of money. Unlike preceding methods, our method requires neither knowledge nor measurement of utility. It is easier to implement, clearer to subjects, and requires fewer measurements than existing methods. (JEL C91, D11, D12, D91)