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Why Do We Procrastinate? Present Bias and Optimism

Breig, Zachary - 2020

Research has shown that procrastination has signicant adverse effects on individuals, including lower savings and poorer health. Procrastination is typically modeled as resulting from present bias. In this paper we study an alternative: excessively optimistic beliefs about future demands on an...

Persistent link: https://www.econbiz.de/10012838487

Choice Over Time

Manzini, Paola; Mariotti, Marco - 2021

In the last twenty years a growing body of experimental evidence has posed a challenge to the standard Exponential Discounting Model of choice over time. Attention has focused on some specific 'anomalies', notably preference reversal and declining discount rates, leading to the formulation of...

Persistent link: https://www.econbiz.de/10013316853

Self-Regulation Through Goal Setting

Koch, Alexander K. - 2008

Goals are an important source of motivation. But little is known about why and how people set them. We address these questions in a model based on two stylized facts from psychology and behavioral economics: i) Goals serve as reference points for performance. ii) Present-biased preferences...

Persistent link: https://www.econbiz.de/10012768179

Ancient Origins of the Global Variation in Economic Preferences

Becker, Anke - 2020

Variation in economic preferences is systematically related to both individual and aggregate economic outcomes, yet little is known about the origins of the worldwide preference variation. This paper uses globally representative data on risk aversion, time preference, altruism, positive...

Persistent link: https://www.econbiz.de/10012838495

Eliciting Utility Curvature in Time Preference

Cheung, Stephen L. - 2019

This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount rates in experimental data. To do so, it introduces a novel design to elicit time preference building upon a translation of the Holt and Laury method for risk. The results...

Persistent link: https://www.econbiz.de/10012863819

The Relationship between Economic Preferences and Psychological Personality Measures

Becker, Anke - 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/10013107699

Stability of Time Preferences

Meier, Stephan - 2011

Individuals frequently face intertemporal decisions. For the purposes of economic analysis, the preference parameters assumed to govern these decisions are generally considered to be stable economic primitives. However, evidence on the stability of time preferences is notably lacking. In a large...

Persistent link: https://www.econbiz.de/10013133877

Financial Literacy, Experimental Preference Measures and Field Behavior a Randomized Educational Intervention

Sutter, Matthias; Weyland, Michael; Untertrifaller, Anna; … - 2023

We present the results of a randomized intervention to study how teaching financial literacy to 16-year old high-school students affects their behavior in risk and time preference tasks. Compared to two different control treatments, we find that teaching financial literacy makes subjects behave...

Persistent link: https://www.econbiz.de/10014350813

The Impact of Education on the Subjective Discount Rate in Ugandan Villages

Bauer, Michal - 2009

Heterogeneity in time discounting may reinforce the existing barriers to save and invest faced by rural populations in developing countries. We elicit a subjective discount rate for a varied sample of Ugandan villagers. In accordance with other studies, we have found the discount rate to...

Persistent link: https://www.econbiz.de/10012764244

Interest Rate Hysteresis in Macroeconomic Investment Under Uncertainty

Belke, Ansgar Hubertus - 2019

The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this … paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under … capital stock and, explicitly, of stochastic changes on the interest rate-investment hysteresis. Starting with hysteresis …

Persistent link: https://www.econbiz.de/10012863765