Time discounting and wealth inequality

Publikation: Bidrag til tidsskriftTidsskriftartikelfagfællebedømt

Standard

Time discounting and wealth inequality. / Epper, Thomas; Fehr, Ernst; Fehr-Duda, Helga; Kreiner, Claus Thustrup; Lassen, David Dreyer; Leth-Petersen, Søren; Rasmussen, Gregers Nytoft.

I: American Economic Review, Bind 110, Nr. 4, 04.2020, s. 177-1205.

Publikation: Bidrag til tidsskriftTidsskriftartikelfagfællebedømt

Harvard

Epper, T, Fehr, E, Fehr-Duda, H, Kreiner, CT, Lassen, DD, Leth-Petersen, S & Rasmussen, GN 2020, 'Time discounting and wealth inequality', American Economic Review, bind 110, nr. 4, s. 177-1205. https://doi.org/10.1257/aer.20181096

APA

Epper, T., Fehr, E., Fehr-Duda, H., Kreiner, C. T., Lassen, D. D., Leth-Petersen, S., & Rasmussen, G. N. (2020). Time discounting and wealth inequality. American Economic Review, 110(4), 177-1205. https://doi.org/10.1257/aer.20181096

Vancouver

Epper T, Fehr E, Fehr-Duda H, Kreiner CT, Lassen DD, Leth-Petersen S o.a. Time discounting and wealth inequality. American Economic Review. 2020 apr.;110(4):177-1205. https://doi.org/10.1257/aer.20181096

Author

Epper, Thomas ; Fehr, Ernst ; Fehr-Duda, Helga ; Kreiner, Claus Thustrup ; Lassen, David Dreyer ; Leth-Petersen, Søren ; Rasmussen, Gregers Nytoft. / Time discounting and wealth inequality. I: American Economic Review. 2020 ; Bind 110, Nr. 4. s. 177-1205.

Bibtex

@article{febd51acbf90402d95951fef23a649ef,
title = "Time discounting and wealth inequality",
abstract = "This paper documents a large association between individuals{\textquoteright} time discounting in incentivized experiments and their positions in the real-life wealth distribution derived from Danish high-quality administrative data for a large sample of middle-aged individuals. The association is stable over time, exists through the wealth distribution and remains large after controlling for education, income profile, school grades, initial wealth, parental wealth, credit constraints, demographics, risk preferences, and additional behavioral parameters. Our results suggest that savings behavior is a driver of the observed association between patience and wealth inequality as predicted by standard savings theory.",
author = "Thomas Epper and Ernst Fehr and Helga Fehr-Duda and Kreiner, {Claus Thustrup} and Lassen, {David Dreyer} and S{\o}ren Leth-Petersen and Rasmussen, {Gregers Nytoft}",
year = "2020",
month = apr,
doi = "10.1257/aer.20181096",
language = "English",
volume = "110",
pages = "177--1205",
journal = "American Economic Review",
issn = "0002-8282",
publisher = "American Economic Association",
number = "4",

}

RIS

TY - JOUR

T1 - Time discounting and wealth inequality

AU - Epper, Thomas

AU - Fehr, Ernst

AU - Fehr-Duda, Helga

AU - Kreiner, Claus Thustrup

AU - Lassen, David Dreyer

AU - Leth-Petersen, Søren

AU - Rasmussen, Gregers Nytoft

PY - 2020/4

Y1 - 2020/4

N2 - This paper documents a large association between individuals’ time discounting in incentivized experiments and their positions in the real-life wealth distribution derived from Danish high-quality administrative data for a large sample of middle-aged individuals. The association is stable over time, exists through the wealth distribution and remains large after controlling for education, income profile, school grades, initial wealth, parental wealth, credit constraints, demographics, risk preferences, and additional behavioral parameters. Our results suggest that savings behavior is a driver of the observed association between patience and wealth inequality as predicted by standard savings theory.

AB - This paper documents a large association between individuals’ time discounting in incentivized experiments and their positions in the real-life wealth distribution derived from Danish high-quality administrative data for a large sample of middle-aged individuals. The association is stable over time, exists through the wealth distribution and remains large after controlling for education, income profile, school grades, initial wealth, parental wealth, credit constraints, demographics, risk preferences, and additional behavioral parameters. Our results suggest that savings behavior is a driver of the observed association between patience and wealth inequality as predicted by standard savings theory.

U2 - 10.1257/aer.20181096

DO - 10.1257/aer.20181096

M3 - Journal article

AN - SCOPUS:85085296640

VL - 110

SP - 177

EP - 1205

JO - American Economic Review

JF - American Economic Review

SN - 0002-8282

IS - 4

ER -

ID: 242566244