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Temporal Discounting in Later Life

出版	Netspar, Network for Studies on Pensions, Aging and Retirement, 2022
URL	http://books.google.com.hk/books?id=KVyLzwEACAAJ&hl=&source=gbs_api

註釋We explore intertemporal decision-making in later life by looking at temporal preference heterogeneity among older individuals. Using choice tasks responses from Poland collected as part of the Survey of Health, Ageing, and Retirement in Europe (SHARE), we elicit individual time preferences using competing discounting specifications. With the formulation that best fits our data, we examine which individual characteristics drive the estimated heterogeneity in later life time preferences. Individual numerical abilities, labour and marital status, as well as household income turn out to be significant correlates of patience. Our analysis also provides methodological guidance for instrument design with the aim of eliciting time preferences in a general survey setting.