年龄,收入,以及延迟货币损失的贴现
Haoran Wan1, Joel Myerson1, Leonard Green1
1Department of Psychological and Brain Sciences, Washington University in St. Louis, St. Louis, Missouri, United States.
概括
较年长的成年人比年轻的成年人少延迟货币损失,收入较高进一步减少了这种折扣. 财务决策中的这些与年龄相关的差异随着损失金额的增加而增加.
科学领域:
- 行为经济学是一种行为经济学.
- 神经经济学 神经经济学
- 决策科学 决策科学 决策科学
背景情况:
- 之前的研究没有发现与年龄相关的差异在贴现延迟的货币损失.
- 这可能是由于研究没有检查收入效应或使用小损失金额.
研究的目的:
- 调查年龄和收入对各种货币损失的贴现的影响.
- 澄清以前关于年龄和损失折扣的调查结果中的不一致性.
主要方法:
- 共有594名参与者 (年龄在20-80岁之间) 完成了调整金额的折扣任务.
- 参与者估计损失为150美元,2500美元和30,000美元,延迟时间为1个月至10年.
- 收入水平从3万美元以下到超过10万美元不等.
主要成果:
- 较年长的成年人比年轻的成年人更少地贴现损失.
- 年轻人的折扣不取决于收入,但收入较高的老年人折扣较少.
- 一个二级年龄效应显示,从35-65岁降低了折扣,然后稳定下来.
- 年龄影响对于较小的损失金额来说不那么明显.
结论:
- 年长的成年人对延迟的货币损失的折扣较少,做出尽量减少长期财务风险的决定.
- 与年龄相关的折扣差异随着更大的损失大小而放大.
- 对损失观察到的收入贴现关系反映了对延迟收益的发现.
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