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2 edition of Intertemporal dependence, impatience, and dynamics found in the catalog.

Intertemporal dependence, impatience, and dynamics

Maurice Obstfeld

Intertemporal dependence, impatience, and dynamics

by Maurice Obstfeld

  • 227 Want to read
  • 33 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Consumer behavior -- Mathematical models.,
  • Consumption (Economics) -- Mathematical models.

  • Edition Notes

    StatementMaurice Obstfeld.
    SeriesNBER working paper series -- working paper no. 3028, Working paper series (National Bureau of Economic Research) -- working paper no.3028.
    The Physical Object
    Pagination37 p. :
    Number of Pages37
    ID Numbers
    Open LibraryOL22437336M

      Repeated bouts of impatience stress your cardiovascular system, digestive system, immune system, and every other biological system you have, upsetting your health and happiness. Impatience . On the contrary, we hypothesize that an increase in appetitive motivation may instigate generalized impatience in intertemporal choice through a common reward processing circuitry. We propose that exposure to “hot stimuli” (Metcalfe and Mischel ) leads to a nonspecific time perspective collapse toward the present.

    However, in contrast to previous studies, this framework allows us to test for true state dependence of voluntary non-participation, involuntary unemployment, full-time work and over-time work. Moreover, we derive consistent estimates of intertemporal labor supply elasticities over time and asses the bias of short- and long-run elasticities. Sign-dependence in intertemporal choice 10 December | Journal of Risk and Uncertainty, Vol. 47, No. 3 Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior.

    The supply/demand of a security in the market is an intertemporal, not a static, object and its dynamics is crucial in determining market participants’ trading behavior. In this paper, we show that the dynamics of the supply/demand, rather than its static properties, is of critical importance to the optimal trading strategy of a given order. rational intertemporal tradeoffs and time inconsistency. Obesity, defined as having a body mass index (BMI) of at le has become a leading public health concern in the developed world in recent decades.1 The most dramatic rise has occurred in the US, where the obesity rate skyrocketed from 13% in.


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Intertemporal dependence, impatience, and dynamics by Maurice Obstfeld Download PDF EPUB FB2

Intertemporal Dependence, Impatience, and Dynamics Maurice Obstfeld. NBER Working Paper No. (Also Reprint No.

r) Issued in July NBER Program(s):Economic Fluctuations and Growth This paper develops simple geometric methods for analyzing dynamic behavior in models with intertemporally dependent consumer by: Get this from a library.

Intertemporal dependence, impatience, and dynamics. [Maurice Obstfeld; National Bureau of Economic Research.]. M Obstfeld, Intertemporal dependence, impatience, and dynamics 49 The consumer discounts second-period felicity by the factor exp[-0(ci)], which is allowed to depend on first-period consumption.5 In the usual time-additive setup, 6(c) = 6, a constant, so the discount factor for future felicities u(c) does not depend on consumption by: Get this from a library.

Intertemporal dependence, impatience, and dynamics. [Maurice Obstfeld; National Bureau of Economic Research.] -- This paper develops simple geometric methods for analyzing dynamic behavior in models with intertemporally dependent consumer tastes.

Since the preferences studied do not assume time-additivity, they. Intertemporal dependence is induced by the presence of a variable individual rate of time preference. The optimal consumption responses to transitory and anticipated changes in incomes and interest rates are easily derived and are similar in many respects to the responses implied by the standard, constant time-preference by: Downloadable (with restrictions).

This paper develops simple geometric methods for analyzing dynamic behavior in models with intertemporally dependent consumer tastes. Since the preferences studied do not assume Intertemporal dependence, they allow the marginal utility of consumption on a given date to vary with consumption on other dates.

Intertemporal dependence is induced by the presence of a. Intertemporal dependence. This paper develops simple geometric methods for analyzing dynamic behavior in models with intertemporally dependent consumer tastes. Since the preferences studied do not assume time-additivity, they allow the marginal utility of consumption on a given date to vary with consumption on other dates.

Intertemporal dependence is induced by the presence of a variable individual rate. INTERTEMPORAL DEPENDENCE, IMPATIENCE, AND DYNAMICS Maurice Obstfeld Working Paper No. NATIONAL BUREAU OF ECONOMIC RESEARCH Massachusetts Avenue Cambridge, MA July This paper grew out of conversations with Jose Saul Lizondo and Peter Montiel.

It was written and partially researched while I was a visiting scholar in the. Intertemporal Dependence, Impatience, and Dynamics. Article. Intertemporal dependence is induced by the presence of a variable individual rate of time preference. The optimal consumption. Journal of Economic Dynamics and Control 7, Obstfeld, M.

() Intertemporal dependence, impatience, and dynamics. Journal of Monetary Econom This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions.

Intertemporal Dependence. Intertemporal choice is the process by which people make decisions about what and how much to do at various points in time, when choices at one time influence the possibilities available at other points in time. These choices are influenced by the relative value people assign to two or more payoffs at different points in time.

Most choices require decision-makers to trade off costs and. OBSTFELD Maurice, (), Intertemporal dependence, impatience, and dynamics, Journal of Monetary Econom PITCHFORD J. D., (), Optimum borrowing and the current account when there are fluctuations in income, Journal of International Econom We investigate variational problems with recursive integral functionals governed by infinite-dimensional differential inclusions with an infinite horizon and present an existence result in the setting of nonreflexive Banach spaces.

We find an optimal solution in a Sobolev space taking values in a Banach space under the Cesari type condition. The purpose of this paper is to introduce the main measures of inconsistency in the context of intertemporal choice and to identify the relationships between them (more specifically, the measures by Prelec, Takahashi and Rohde).

In effect, Thaler (), awarded the Nobel Prize in Economicsargued that when a preference must be expressed between two reward options, some people may. For infinite-horizon models with recursive preferences the condition known as increasing marginal impatience is often adopted, but the condition is not fully understood in the literature.

This paper shows that increasing marginal impatience is equivalent to the intuitive property that the substitutability between the consumption levels in two different periods is a decreasing function of the. The economics of impatience. Ernst Fehr 1 In trade jargon, these are known as 'intertemporal choices', and at some time or other we all have to make them.

Drug and Alcohol Dependence (). Obstfeld M. (), “Intertemporal dependence, impatience, and dynamics”, Journal of Monetary Econom pp.

Pitchford J.D. “Optimum Borrowing and the Current Account when there are Fluctuations in Income”. Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume ) solutions except in the Millian case. We prove that only one is optimal. Comparative statics and transitional dynamics are numerically derived in the general case.

Intertemporal dependence, impatience, and dynamics. Monet. Econ. In this article the experiment carried out by Takahashi et al. [ Takahashi, T., T. Hadzibeganovic, S. Cannas, T. Makino, H. Fukui, and S. Kitayama.“ Cultural Neuroeconomics of Intertemporal Choice.” Neuroendocrinology Letters, 30, (), pp.

–[Web of Science ®], [Google Scholar]] is replicated to analyze the influence of culture, gender, origin (urban or rural), and.

Inevitably, most researches on this issue show the discount functions which, in each case, better fit the data. In effect, [] estimate the parameters of the main intertemporal choice models: exponential, simple hyperbolic, quasi-hyperbolic, and uently, they compare the impatience shown by two groups by simply comparing the discount rates of the corresponding discount functions.Available in the National Library of Australia collection.

Author: Obstfeld, Maurice; Format: Book; 1 v. ; 23 cm.Intertemporal choice task. On each day, participants performed an intertemporal choice task, while pupillometric data were collected.

Participants were presented with a choice screen simultaneously showing two options: a monetary reward available today (e.g., “$10 today”), and a monetary reward of larger magnitude available at a later date (e.g., “$20 in 30 days”).