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11.
Junji Kageyama 《Journal of Bioeconomics》2011,13(2):79-95
This paper studies the intertemporal allocation of consumption and time preference in both biological and economic framework.
By incorporating intergenerational transfers to examine human life-history strategies, this study demonstrates that time discounting
and mortality mirror the age-variation in the value of survival, which in turn depends on future reproduction and productive
surplus. Consistent with empirical findings, the results suggest that our biologically endowed rate of time preference is
positive, and is lowest in early adulthood, but increases thereafter. The results also offers a biological explanation for
intertemporal loss aversion, indicating that time preference is higher when exchange transactions involve a reduction in current
consumption than when they involve an increase in current consumption. In a broader perspective, this paper looks into the
biological foundation of preferences and motivation. Establishing the foundation of preferences with biological models and
incorporating the results into economic models enrich the understanding of our decision-making mechanism and behavior. 相似文献
12.
The Effects of A Continuous Increase in Lifetime on Saving 总被引:1,自引:0,他引:1
Junji Kageyama 《Review of Income and Wealth》2003,49(2):163-183
This paper examines the effects on saving of a continuous increase in lifetime and shows that a greater increase in lifetime leads to greater savings. This is because an increase in lifetime is accompanied by uncertainty and because the working-age cohort whose lifetime is longer saves more than the retired cohort dissaves. This result is tested empirically with cross-country data, and it is confirmed that an increase in life expectancy has a positive effect on various saving rates. 相似文献