2:30pm - 3:45pm

Wednesday 20 March 2019

Economics Seminar: Random Models for the Joint Treatment of Risk and Time Preferences

Prof. Jose Apesteguia (Universitat Pompeu Fabra) will be visiting the School. His work focuses on individual decision-making with an emphasis on its psychological foundations. He uses both theoretical tools and an empirical approach to try to better understand individual decision-making, and to improve the predictive power of decision-making models in economic environments.

Free

University of Surrey
Guildford
Surrey
GU2 7XH
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Title: Random Models for the Joint Treatment of Risk and Time Preferences

Abstract

We present a simple framework for the joint treatment of risk and time preferences in deterministic settings, and introduce its stochastic version using the random multi-parameter approach. We argue that the stochastic models respect the stochastic counterparts of the comparative statics of the deterministic models. We put into action our approach using some of the key existing experimental datasets jointly dealing with risk and time preferences.

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