OxTalks will soon move to the new Halo platform and will become 'Oxford Events.' There will be a need for an OxTalks freeze. This was previously planned for Friday 14th November – a new date will be shared as soon as it is available (full details will be available on the Staff Gateway).
In the meantime, the OxTalks site will remain active and events will continue to be published.
If staff have any questions about the Oxford Events launch, please contact halo@digital.ox.ac.uk
Economists have recently argued that time inconsistency may play a central role in explaining inter-temporal behavior, particularly among poor households. However, time-preference parameters are typically not identified in standard dynamic choice models and little is known about the fraction of inconsistent agents in the population. We formulate a dynamic discrete choice model in an unobservedly heterogeneous population of possibly time-inconsistent agents. We show that given two exclusion restrictions, both agents’ time preferences and population type probabilities are separately identified. Using specifically collected information combined with a field intervention in rural India, we estimate all time-preference parameters as well as the population fractions of time-consistent and “naive” and “sophisticated” time-inconsistent agents, and provide counterfactual policy simulations.
Please sign up for meetings using the schedule below:
docs.google.com/spreadsheets/d/1RGiVMwMBw0NPXh9BF6ooO6HJA1J56wqf_en2deCi-ZY/edit#gid=0
