Hypothetical Intertemporal Consumption Choices  

Oleh:

Kapteyn, Arie ; Teppa, Federica

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 113 no. 486 (2003), page C140-C152.
Topik: consumption; hypothetical; consumption; choices
Fulltext: C140.pdf (97.35KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The paper extends and replicates part of the analysis by Barsky et al. (1997), which exploits hypothetical choices among different consumption streams to infer intertemporal substitution elasticities and rates of time preference. We use a new and much larger dataset than Barsky et al. Furthermore, we estimate structural models of intertemporal choice, while parameterising the parameters of interest as a function of relevant individual characteristics. We also consider 'behavioural’ extensions, like habit formation. Models with habit formation appear to be superior to models with intertemporally additive preferences.

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