The relation between behavior under risk and over time

Anujit Chakraborty, Kota Saito, Halevy Yoram

Research output: Contribution to journalArticlepeer-review


The paper establishes a tight relation between nonstandard behaviors in the domains of risk and time, by considering a decision-maker with non-expected utility preferences who believes that only present consumption is certain while any future consumption is uncertain. We provide the first complete characterizations of the two-way relations between the certainty effect and present bias, and between the common ratio effect and temporal reversals.
Original languageAmerican English
Pages (from-to)1-16
Number of pages16
JournalAmerican Economic Review: Insights
Issue number1
StatePublished - 2020


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