000			01384nas a2200229Ia 4500
008			241128c99999999xx |||||||||||| ||und||
022			_a0034-6535
100			_aLanier, Joshua _9123779
245		0	_aIntertemporal Consumption with Risk: A Revealed Preference Analysis
260			_bThe Review of Economics and Statistics
260			_c2024
300			_a1319-1333
520			_aWe run an experiment to elicit preferences over state-contingent timed payouts. We analyze the data using a new revealed preference method (building on Nishimura et al., 2017) that can test for consistency with utility functions that increase with a given preorder. We find that correlation neutrality, a property implied by discounted expected utility, is widely violated and there is, instead, strong evidence of intertemporal correlation averse behavior. Our results suggest that utility is not additive across both states and time and that credible models of choice need to allow people to prefer negative correlation in timed payouts.
650			_a Correlation Neutrality _9123780
650			_a Intertemporal Correlation _9123781
650			_a Negative Correlation _9123782
650			_aIntertemporal Consumption _9123783
700			_a Miao, Bin _9123784
700			_a Quah, John K.-H. _9123785
700			_a Zhong, Songfa _9123786
856			_uhttps://doi.org/10.1162/rest_a_01220
999			_c134593 _d134593