| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25232 |
| 来源ID | Working Paper 25232 |
| Arbitrage Or Narrow Bracketing? On Using Money to Measure Intertemporal Preferences | |
| James Andreoni; Christina Gravert; Michael A. Kuhn; Silvia Saccardo; Yang Yang | |
| 发表日期 | 2018-11-05 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | If experimental subjects arbitrage against market interest rates when making intertemporal allocations of cash, the data will reveal nothing about subjects' discount rates, only uncovering subjects' market interest rates. If they frame choices narrowly, market rates will not be salient and the experiment will uncover subjects' utility discount rates. We test arbitrage directly by forcing all transactions with subjects to be instant electronic bank transfers, thus making arbitrage easy and salient. We also employ four decision frames to test alternative hypotheses. Our evidence contradicts arbitrage, supports money as a valid reward, and suggests framing as a correlate with present bias. |
| 主题 | Econometrics ; Estimation Methods ; Experimental Design ; Microeconomics ; Households and Firms ; Economics of Information ; Behavioral Economics ; Financial Economics ; Behavioral Finance |
| URL | https://www.nber.org/papers/w25232 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582906 |
| 推荐引用方式 GB/T 7714 | James Andreoni,Christina Gravert,Michael A. Kuhn,et al. Arbitrage Or Narrow Bracketing? On Using Money to Measure Intertemporal Preferences. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25232.pdf（606KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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