Powiązanie subiektywnych stóp dyskonta z przewidywanymi stopami inflacji i oprocentowania
Relation between subjective discount rates and foreseen inflation and market rates

Summary/Abstract: According to discounted utility model, in the same circumstances, future cash flows should be always discounted using the same discount rate independently of the discounted amount, period of discounting or moment of discounting. However, some researchers claim people discount future events using different discount rates. For example they use different discount rate to discount from a moment two years from now for a moment one year from now and different discount rate to discount from a moment three years from now for a moment two years from now. One of possible explanations of why it happens is that people incorporate in their subjective discount rates foreseen inflation or market rates. Present work investigates this possibility. To do that a survey among 114 students was conducted. The results of the survey show that there is only slight connection between subjective discount rates and inflation or market rates

• Details
• Contents