Research Seminar: Random Models for the Joint Treatment of Risk and Time Preferences
Speaker: Miguel Ballester, Department of Economics, University of Oxford
We present and study, theoretically, a simple framework for the joint treatment of risk and time preferences in deterministic settings. We then introduce a stochastic version of the model using the random multi-parameter approach, showing that is free of problems and ready to use in the estimation of risk and time preferences.
We put into action the stochastic model using several existing experimental datasets.