A study into mechanisms of attitudinal scale conversion: A randomized stochastic ordering approach

Quantitative Marketing and Economics - This paper considers the methodological challenge of how to convert categorical attitudinal scores (like satisfaction) measured on one scale to a categorical...     

Time preference and capital asset pricing models

Results of the theory of individual optimal consumption-investment choice under uncertainty are extended to a class of intertemporally dependent preferences for consumption streams. These results are then used to show that with intertemporally dependent preferences, which are more realistic than the separable time-additive preference structure, Merton's (1973) multi-beta intertemporal capital asset pricing model is still valid, but it can no longer be collapsed to Breeden's (1979) single consumption-beta model.     

The Psychology of Intertemporal Discounting: Why are Distant Events Valued Differently from Proximal Ones?

Research in intertemporal choice has been done in a variety of contexts, yet there is a remarkable consensus that future outcomes are discounted (or undervalued) relative to immediate outcomes. In this paper, we (a) review some of the key findings in the literature, (b) critically examine and articulate implicit assumptions, (c) distinguish between intertemporal effects arising due to time preference versus those due to changes in utility as a function of time, and (d) identify issues and questions that we believe serve as avenues for future research.