A Closer Look at the Yardstick: A New Discount Rate Measure with Precision and Range†. (14th July 2015)
- Record Type:
- Journal Article
- Title:
- A Closer Look at the Yardstick: A New Discount Rate Measure with Precision and Range†. (14th July 2015)
- Main Title:
- A Closer Look at the Yardstick: A New Discount Rate Measure with Precision and Range†
- Authors:
- Yoon, Haewon
Chapman, Gretchen B. - Abstract:
- Abstract: In intertemporal choice research, choice tasks (i.e., choosing between $80 today and $100 in a year) are often used to elicit a discount rate. The discount rate derived from a choice task, however, is largely restricted by the granularities and ranges of the questions asked. We examined this restriction in three popular discount rate measurements using simulations and experiments, and we propose an alternative procedure (Three‐option Adaptive Discount rate measure (ToAD)), which is capable of measuring a wide range of discount rates (from approximately .035% to 350 000% annual percentage rate) with high precision using 10 questions, in under a minute. ToAD can be easily implemented in online surveys (i.e., Qualtrics). Copyright © 2015 John Wiley & Sons, Ltd.
- Is Part Of:
- Journal of behavioral decision making. Volume 29:Number 5(2016:Dec.)
- Journal:
- Journal of behavioral decision making
- Issue:
- Volume 29:Number 5(2016:Dec.)
- Issue Display:
- Volume 29, Issue 5 (2016)
- Year:
- 2016
- Volume:
- 29
- Issue:
- 5
- Issue Sort Value:
- 2016-0029-0005-0000
- Page Start:
- 470
- Page End:
- 480
- Publication Date:
- 2015-07-14
- Subjects:
- discount rate elicitation -- intertemporal choice -- measurement -- ToAD
Decision making -- Periodicals
Managerial economics -- Periodicals
Behavior -- Periodicals
Decision Making -- Periodicals
Prise de décision -- Périodiques
Économie d'entreprise -- Périodiques
153.83 - Journal URLs:
- http://onlinelibrary.wiley.com/ ↗
- DOI:
- 10.1002/bdm.1890 ↗
- Languages:
- English
- ISSNs:
- 0894-3257
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 4951.256600
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 556.xml