Consume Now or Later? Time Inconsistency, Collective Choice, and Revealed Preference
开发了一种显示性偏好方法，检验家庭选择中的时间不一致是源于个人偏好的非平稳性，还是家庭内部个体异质性与重新谈判的结果。对家庭微观数据的应用表明，承认家庭选择的集体性质，可以用个人偏好平稳的理论来解释观察到的行为。该方法还能恢复每个家庭成员的贴现率。
We develop a revealed preference methodology that allows us to explore whether time inconsistencies in household choice are the product of individual preference nonstationarities or the result of individual heterogeneity and renegotiation within the household. An empirical application to household-level microdata highlights that an explicit recognition of the collective nature of household choice enables the observed behavior to be rationalized by a theory that assumes preference stationarity at the individual level. The methodology created in this paper also facilitates the recovery of theory-consistent discount rates for each individual within particular household under study.