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- Publisher Website: 10.1007/s00148-004-0187-0
- Scopus: eid_2-s2.0-7944238306
- WOS: WOS:000226096500001
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Article: Does time preference change with age?
Title | Does time preference change with age? |
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Authors | |
Keywords | Aging Compensating differentials Time preference |
Issue Date | 2004 |
Citation | Journal of Population Economics, 2004, v. 17, n. 4, p. 583-602 How to Cite? |
Abstract | This study looks at compensating differentials in the National Longitudinal Survey of Youth (NLSY) to derive estimates of the levels of time preference for labor force participants in each of 15 waves of data from 1979 to 1994. With these estimates the evolution of time preference over the life course is described. Future utility among labor force participants appears to be valued more highly by subjects who are older, more schooled, white, or male. Controlling for schooling level, a higher IQ is associated with a preference for more immediate rewards. If social rates of time preference are correlated with individual rates of time preference then population aging could create intergenerational asymmetries in the social rate of time preference. This phenomenon could make the optimal investments of young populations appear selfish to future generations that are older. |
Persistent Identifier | http://hdl.handle.net/10722/326851 |
ISSN | 2023 Impact Factor: 3.3 2023 SCImago Journal Rankings: 2.688 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Bishai, David M. | - |
dc.date.accessioned | 2023-03-31T05:26:59Z | - |
dc.date.available | 2023-03-31T05:26:59Z | - |
dc.date.issued | 2004 | - |
dc.identifier.citation | Journal of Population Economics, 2004, v. 17, n. 4, p. 583-602 | - |
dc.identifier.issn | 0933-1433 | - |
dc.identifier.uri | http://hdl.handle.net/10722/326851 | - |
dc.description.abstract | This study looks at compensating differentials in the National Longitudinal Survey of Youth (NLSY) to derive estimates of the levels of time preference for labor force participants in each of 15 waves of data from 1979 to 1994. With these estimates the evolution of time preference over the life course is described. Future utility among labor force participants appears to be valued more highly by subjects who are older, more schooled, white, or male. Controlling for schooling level, a higher IQ is associated with a preference for more immediate rewards. If social rates of time preference are correlated with individual rates of time preference then population aging could create intergenerational asymmetries in the social rate of time preference. This phenomenon could make the optimal investments of young populations appear selfish to future generations that are older. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of Population Economics | - |
dc.subject | Aging | - |
dc.subject | Compensating differentials | - |
dc.subject | Time preference | - |
dc.title | Does time preference change with age? | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1007/s00148-004-0187-0 | - |
dc.identifier.scopus | eid_2-s2.0-7944238306 | - |
dc.identifier.volume | 17 | - |
dc.identifier.issue | 4 | - |
dc.identifier.spage | 583 | - |
dc.identifier.epage | 602 | - |
dc.identifier.isi | WOS:000226096500001 | - |