Empirical Determinants of Intertemporal Choice / Jeffrey R. Brown, Zoran Ivković, Scott Weisbenner.

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Brown, Jeffrey R

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w18755.Publication details: Cambridge, Mass. National Bureau of Economic Research 2013.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: We study the empirical determinants of intertemporal choice by analyzing a unique decision Croatian retirees made recently about whether to accept an immediate pension payment or a larger stream of delayed payments. Individual decisions are correlated in sensible ways with income, liquidity constraints, longevity expectations, and other covariates. Attitudes toward government also matter: those less confident that the government will honor its commitments are more likely to take the immediate stream of payments. Those who believe it is important to receive "the full amount due, no matter how long it takes" are substantially more likely to take the delayed payments.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w18755 (Browse shelf(Opens below))	Not For Loan

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February 2013.

We study the empirical determinants of intertemporal choice by analyzing a unique decision Croatian retirees made recently about whether to accept an immediate pension payment or a larger stream of delayed payments. Individual decisions are correlated in sensible ways with income, liquidity constraints, longevity expectations, and other covariates. Attitudes toward government also matter: those less confident that the government will honor its commitments are more likely to take the immediate stream of payments. Those who believe it is important to receive "the full amount due, no matter how long it takes" are substantially more likely to take the delayed payments.