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Which Measures of Time Preference Best Predict Outcomes? Evidence from a Large-Scale Field Experiment

Burks, Stephen V.; Carpenter, Jeffrey P.; Götte, Lorenz; … - Institute for the Study of Labor (IZA) - 2011

present bias and exponential discounting predicts best, especially when both parameters are used. …

Persistent link: https://www.econbiz.de/10009144847

Effects of Stress on Economic Decision-Making: Evidence from Laboratory Experiments

Delaney, Liam; Fink, Günther; Harmon, Colm P. - Institute for the Study of Labor (IZA) - 2014

intelligence tests as cognitive stressors, we find that stress increases subjective discounting rates, has no effect on the degree …

Persistent link: https://www.econbiz.de/10011105080

Are Risk Aversion and Impatience Related to Cognitive Ability?

Dohmen, Thomas; Falk, Armin; Huffman, David; Sunde, Uwe - Institute for the Study of Labor (IZA) - 2007

Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, and impatience, using a representative sample of the population and incentive compatible measures. We conduct...

Persistent link: https://www.econbiz.de/10005822866

The Economics of Risky Health Behaviors

Cawley, John; Ruhm, Christopher J. - Institute for the Study of Labor (IZA) - 2011

interventions. It also details nontraditional models (e.g. involving hyperbolic time discounting or bounded rationality) that even …

Persistent link: https://www.econbiz.de/10009024597

Stated and Revealed Heterogeneous Risk Preferences in Educational Choice

Fossen, Frank M.; Glocker, Daniela - Institute for the Study of Labor (IZA) - 2014

Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...

Persistent link: https://www.econbiz.de/10010743492

Interpreting Time Horizon Effects in Inter-Temporal Choice

Dohmen, Thomas; Falk, Armin; Huffman, David; Sunde, Uwe - Institute for the Study of Labor (IZA) - 2012

We compare different designs that have been used to test for an impact of time horizon on discounting, using real … declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not … consistent with any of these usual candidate discounting assumptions, and they also imply a violation of transitivity. The …

Persistent link: https://www.econbiz.de/10009652536

Quasi-Hyperbolic Time Preferences and their Intergenerational Transmission

Kosse, Fabian; Pfeiffer, Friedhelm - Institute for the Study of Labor (IZA) - 2013

This study explores the intergenerational transmission of time preferences and focuses on the question which specific aspects of mother's time preference are related to her preschool child's ability to delay gratification. We provide a new procedure for assessing the parameters of a...

Persistent link: https://www.econbiz.de/10010627837

The Agricultural Origins of Time Preference

Galor, Oded; Özak, Ömer - Institute for the Study of Labor (IZA) - 2014

This research explores the origins of the distribution of time preference across regions. It advances the hypothesis and establishes empirically, that geographical variations in natural land productivity and their impact on the return to agricultural investment have had a persistent effect on...

Persistent link: https://www.econbiz.de/10010959583

Framing Effects and Impatience: Evidence from a Large Scale Experiment

van der Heijden, Eline; Klein, Tobias J.; Müller, Wieland - Institute for the Study of Labor (IZA) - 2012

We confront a representative sample of one 1,102 Dutch individuals with a series of incentivized investment decisions and also elicit their time preferences. There are two treatments that differ in the frequency at which individuals decide about the invested amount. The low frequency treatment...

Persistent link: https://www.econbiz.de/10011271980

The Relationship Between Economic Preferences and Psychological Personality Measures

Becker, Anke; Deckers, Thomas; Dohmen, Thomas; Falk, Armin - Institute for the Study of Labor (IZA) - 2012

Although both economists and psychologists seek to identify determinants of heterogeneity in behavior, they use different concepts to capture them. In this review we first analyze the extent to which economic preferences and psychological concepts of personality – such as the Big Five and...

Persistent link: https://www.econbiz.de/10011279288