Publication: Time discounting and wealth inequality
Time discounting and wealth inequality
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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, 1177–1205. https://doi.org/10.1257/aer.20181096
Abstract
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Abstract
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 paramet
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Creators (Authors)
- Epper, Thomas
- Fehr-Duda, Helga
- Kreiner, Claus Thustrup
- Lassen, David Dreyer
- Leth-Petersen, Søren
- Rasmussen, Gregers Nytoft
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Citations
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, 1177–1205. https://doi.org/10.1257/aer.20181096
