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 that two thirds of choices suggest negative time preferences. Moreover, choice reversal over time is common even if temptation plays no role. We propose and measure three distinct concepts of choice reversal over time to study time consistency. This evidence calls for an important role for anticipatory feelings and uncertainty in intertemporal behavior.

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Year of publication:	2010
Authors:	Casari, Marco ; Dragone, Davide
Publisher:	Jena : Friedrich Schiller University Jena and Max Planck Institute of Economics
Subject:	Zeitpräferenz \| Risiko \| Test \| negative time preferences \| choice reversal \| risk \| time inconsistency \| real-effort experiment

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Series:	Jena Economic Research Papers ; 2010,087
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	64217511X [GVK] hdl:10419/56806 [Handle]
Classification:	C91 - Laboratory, Individual Behavior ; D01 - Microeconomic Behavior: Underlying Principles ; D80 - Information and Uncertainty. General ; D90 - Intertemporal Choice and Growth. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10010286447