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

Détails

ID Serval
serval:BIB_B74B63EB7074
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Institution
Titre
Which Measures of Time Preference Best Predict Outcomes? Evidence from a Large-Scale Field Experiment
Périodique
Journal of Economic Behavior and Organization
Auteur⸱e⸱s
Burks  J., Carpenter  J., Goette  L., Rustichini  A.
ISSN
0167-2681
Statut éditorial
Publié
Date de publication
09/2012
Peer-reviewed
Oui
Volume
84
Numéro
1
Pages
308 - 312
Langue
anglais
Résumé
Economists and psychologists have devised numerous instruments to measure time preferences and have generated a rich literature examining the extent to which time preferences predict important outcomes; however, we still do not know which measures work best. With the help of a large sample of non-student participants and administrative data on outcomes, we gather four different time preference measures and test the extent to which they predict both on their own and when they are all forced to compete head-to-head. Our results suggest that the now familiar (β, δ) formulation of present bias and exponential discounting predicts best, especially when both parameters are used.
Mots-clé
time preference, impatience, discounting, present bias, field experiment
Création de la notice
23/10/2013 17:13
Dernière modification de la notice
21/08/2019 6:18
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