Impatience, Anticipatory Feelings and Uncertainty:A Dynamic Experiment on Time Preferences

We study time preferences in a real-effort experiment with a one-month horizon. We report thattwo thirds of choices suggest negative time preferences. Moreover, choice reversal over time iscommon even if temptation plays no role. We propose and measure three distinct concepts ofchoice reversal over time to study time consistency. This evidence calls for an important role foranticipatory feelings and uncertainty in intertemporal behavior.

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Year of publication:	2010-12-13
Authors:	Casari, Marco ; Dragone, Davide
Institutions:	Max-Planck-Institut für Ökonomik <Jena> / Abteilung Strategische Interaktion
Subject:	Zeitpräferenz \| Experimentelle Wirtschaftsforschung \| experiment \| Verhaltensökonomie \| Behavioral Economics

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Extent:	943104 bytes 49 p. application/pdf
Series:	Abteilung Strategische Interaktion - Discussion Papers Jena Economic Research Papers 087(2010)
Type of publication:	Book / Working Paper
Language:	English
Classification:	C91 - Laboratory, Individual Behavior ; D01 - Microeconomic Behavior: Underlying Principles ; D80 - Information and Uncertainty. General ; D90 - Intertemporal Choice and Growth. General ; Subject matter and research method of business administration ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10009248914