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Discounting: Money vs. effort

Measuring discounting with multiple price lists over money is standard — but money is fungible and savings contaminate the measurement. Augenblick, Niederle, and Sprenger (2015) bypass this by eliciting discounting over effort, which gives us a cleaner test of exponential vs. beta-delta preferences and a worked example of identification through experimental design.

Applied Microeconomics
In-class exercise
Applied Microeconomics
Learning objectives