We empirically implement a dynamic structural model of labor supply and welfare program participation for agents with potentially time‐inconsistent preferences. Using panel data on the choices of single women with children from the National Longitudinal Surveys (NLSY) 1979, we provide estimates of the degree of time‐inconsistency, and of its influence on the welfare take‐up decision. …
카테고리 글 보관함:행복DB
DellaVigna, S., &Malmendier, U. (2006). Paying not to go to the gym. American Economic Review, 96(3), 694-719.
How do consumers choose from a menu of contracts? We analyze a novel dataset from three U.S. health clubs with information on both the contractual choice and the day-to-day attendance decisions of 7,752 members over three years. The observed consumer behavior is difficult to reconcile with standard preferences and beliefs. First, members who choose a …
Morgan, M. (1984). Heavy television viewing and perceived quality of life. Journalism Quarterly, 61(3), 499-740.
초록 없음 Morgan, M. (1984). Heavy television viewing and perceived quality of life. Journalism Quarterly, 61(3), 499-740.
Bruni, L., &Stanca, L. (2008). Watching alone: relational goods, television and happiness. Journal of Economic Behavior &Organization, 65(3), 506-528.
This paper investigates the role of relational goods for subjective well-being. Using a large sample of individuals from the World Values Survey, we find that relational goods have a significant effect on life satisfaction, while television viewing plays a key role in crowding-out relationality. Both results are robust to the use of alternative indicators of …
DellaVigna, S., &Paserman, M. D. (2005). Job search and impatience. Journal of Labor Economics, 23(3), 527-588.
Workers who are more impatient search less intensively and set lower reservation wages. The effect of impatience on exit rates from unemployment is therefore unclear. If agents have exponential time preferences, the reservation wage effect dominates for sufficiently patient individuals, so increases in impatience lead to higher exit rates. The opposite is true for agents …
Frederick, S., Loewenstein, G., &O& #39;donoghue, T. (2002). Time discounting and time preference: A critical review. Journal of economic literature, 40(2), 351-401.
This paper discusses the discounted utility (DU) model: its historical development, underlying assumptions, and “anomalies” – the empirical regularities that are inconsistent with its theoretical predictions. We then summarize the alternate theoretical formulations that have been advanced to address these anomalies. We also review three decades of empirical research on intertemporal choice, and discuss reasons …
O& #39;Donoghue, T., & Rabin, M. (1999). Doing it now or later. American Economic Review, 89(1), 103-124.
The authors examine self-control problems–modeled as time-inconsistent, present-biased preferences–in a model where a person must do an activity exactly once. They emphasize two distinctions: do activities involve immediate costs or immediate rewards, and are people sophisticated or naive about future self-control problems? Naive people procrastinate immediate-cost activities and preproperate–do too soon–immediate-reward activities. Sophistication mitigates procrastination …
Angeletos, G. M., Laibson, D., Repetto, A., Tobacman, J., &Weinberg, S. (2001). The hyperbolic consumption model: Calibration, simulation, and empirical evaluation.
Laboratory and field studies of time preference find that discount rates are much greater in the short run than in the long run. Hyperbolic discount functions capture this property. This paper presents simulations of the savings and asset allocation choices of households with hyperbolic preferences. The behavior of the hyperbolic households is compared to the …
Cutler, D. M., Glaeser, E. L., &Shapiro, J. M. (2003). Why have Americans become more obese?. Journal of Economic perspectives, 17(3), 93-118.
Americans have become considerably more obese over the past 25 years. This increase is primarily the result of consuming more calories. The increase in food consumption is itself the result of technological innovations which made it possible for food to be mass prepared far from the point of consumption, and consumed with lower time costs …
Shapiro, J. M. (2005). Is there a daily discount rate? Evidence from the food stamp nutrition cycle. Journal of public Economics, 89(2-3), 303-325.
Quasi-hyperbolic discounting predicts impatience over short-run tradeoffs. I present a direct non-laboratory test of this implication using data on the nutritional intake of food stamp recipients. Caloric intake declines by 10 to 15 percent over the food stamp month, implying a significant preference for immediate consumption. These findings constitute a rejection of the permanent income …