Does time preference change with age?
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...
Paper Details
Title
Does time preference change with age?
Published Date
Dec 1, 2004
Volume
17
Issue
4
Pages
583 - 602
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