Comparative Impatience under Random Discounting
Comparative Impatience under Random Discounting
复制标题
随机折扣下比较不耐烦
DOI：
10.1007/s00199-015-0950-3
复制
发表时间：
2017
期刊：
影响因子：
1.3
通讯作者：
and Hiroyuki Tanaka
中科院分区：
文献类型：
--
作者：
Youichiro Higashi;Kazuya Hyogo;Norio Takeoka;and Hiroyuki Tanaka
随机贴现模型被用作一个易于处理的模型，这与灵活性的偏好是一致的。以Goldman（J. Econ. Theory 9：203-222，1974）为例，说明了在随机贴现下，平均时间偏好和灵活性偏好可能是相互冲突的，它们的混合效应有助于显示不耐烦。为了获得比较静态的尖锐的结果，我们问下什么样的概率变化的折扣因素，它是可能的说，一个代理人总是表现出更不耐烦的选择比其他即使两个代理人有灵活性的关注。我们提供了一个行为定义的不耐烦的比较，并确定不耐烦的相对程度是衡量作为一个随机折扣因子的概率转移的单调似然ratioorder。
The random discounting model has been used as a tractable model which is consistent with preference for flexibility. By taking Goldman (J. Econ. Theory 9:203–222, 1974) as an example, we illustrate that under random discounting, the average time preference and preference for flexibility may be conflicting to each other and their mixed effect contributes to revealed impatience. To obtain sharp results in comparative statics, we ask under what kind of probability shifts on discount factors, it is possible to say that one agent always exhibits a more impatient choice than the other even when both agents have flexibility concern. We provide a behavioral definition of impatience comparisons and identify that the relative degree of impatience is measured as a probability shift of a random discount factor in themonotone likelihood ratioorder.