Estimating the relationship between rate of time preferences and socio-economic factors in Russia

Rate of time preferences reflect an individual’s opinion on how to distribute consumption over time. In this paper we examine various socio-economic factors that are related to rate of time preferences in Russia. The data are obtained from a survey from the Yuri Levada Analytical Center that was conducted in 2011. Our findings suggest that time preferences of men and women should be analyzed separately in Russia. Factors such as age, income, educational level, the size and structure of a household, marital status and place of residence have a significant impact on rate of time preferences. However, these socio-economic factors influence the rate of time preferences in different ways for men and women