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Title: Measuring Time-inconsistency: Evidence from Work-Welfare Decisions in NLSY
Resulting in 1 citation.
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Fang, Hanming Silverman, Daniel Susman |
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Measuring Time-inconsistency: Evidence from Work-Welfare Decisions in NLSY Working Paper, Department of Economics, Yale University, February 2001. Also: http://www.econ.yale.edu/seminars/apmicro/am01/fang-010213.pdf Cohort(s): NLSY79 Publisher: Department of Economics, Yale University Keyword(s): Aid for Families with Dependent Children (AFDC); Labor Supply; Maternal Employment; Time Inconsistency; Time Preference; Welfare Permission to reprint the abstract has not been received from the publisher. This paper applies a model of potentially time-inconsistent preferences to the problem of dynamic labor supply and welfare program participation. From panel data on the choices of single women with children, we provide estimates of the degree of time-inconsistency. With these estimates we can quantify the utility loss stemming from the inability to commit to future decisions, and the potential value of commitment mechanisms such as welfare time limits. |
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Bibliography Citation
Fang, Hanming and Daniel Susman Silverman. "Measuring Time-inconsistency: Evidence from Work-Welfare Decisions in NLSY." Working Paper, Department of Economics, Yale University, February 2001. |