动态不一致
贴现
预测能力
货币政策
消费(社会学)
承诺装置
动态需求
功率(物理)
经济
计算机科学
微观经济学
货币经济学
财务
量子力学
认识论
物理
社会科学
哲学
社会学
激励
作者
Ned Augenblick,Muriel Niederle,Charles Sprenger
摘要
Abstract Experimental tests of dynamically inconsistent time preferences have largely relied on choices over time-dated monetary rewards. Several recent studies have failed to find the standard patterns of present bias. However, such monetary studies contain often-discussed confounds. In this article, we sidestep these confounds and investigate choices over consumption (real effort) in a longitudinal experiment. We pair this effort study with a companion monetary discounting study. We confirm very limited time inconsistency in monetary choices. However, subjects show considerably more present bias in effort. Furthermore, present bias in the allocation of work has predictive power for demand of a meaningfully binding commitment device. Therefore our findings validate a key implication of models of dynamic inconsistency, with corresponding policy implications.
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