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Experimentally elicited discount rates are frequently higher than whatseems reasonable for economic decision-making. Such high rates areoften attributed to present-biased discounting. A well-known bias ofstandard measurements is the assumption of linear consumption utility. Attempting to correct this bias using measures of risk aversionto identify concavity, researchers find reasonable discounting but atthe cost of exceptionally high utility function curvature. We present anew methodology for identifying time preferences, both discountingand curvature, from simple allocation decisions. We find reasonablelevels of both discounting and curvature and, surprisingly, dynamicallyconsistent time preferences. (JEL C91, D12, D81)