TY  - JOUR
AU  - Andreoni, James
AU  - Feldman, Paul
AU  - Sprenger, Charles
TI  - A Stream of Prospects or a Prospect of Streams: On the Evaluation of Intertemporal Risks
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 24075
PY  - 2017
Y2  - November 2017
DO  - 10.3386/w24075
UR  - http://www.nber.org/papers/w24075
L1  - http://www.nber.org/papers/w24075.pdf
N1  - Author contact info:
James Andreoni
Department of Economics
University of California, San Diego
9500 Gilman Drive
La Jolla, CA 92093-0508
Tel: 858/534-3832
Fax: 858/534-7040
E-Mail: andreoni@ucsd.edu

Paul J. Feldman
University of California, San Diego
Dept of Economics # 0508
9500 Gilman Drive
La Jolla , CA 93093
E-Mail: pfeldman@ucsd.edu

Charles Sprenger
University of California, San Diego
Rady School of Business
9500 Gilman Drive
La Jolla, CA 93093
E-Mail: c.sprenger@gmail.com
AB  - Recent debate has identified important gaps in the understanding of intertemporal risks. Critical to closing these gaps is evidence on which dimension of intertemporal risk – the risk or the time – is evaluated first. Though under discounted expected utility this ordering is of no consequence, under discounted non-expected utility models the order of evaluation is critical. We provide experimental tests in which different orderings of evaluation generate different predictions for behavior. We find more support for the notion that the risk dimension is evaluated first.
ER  -