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Thinking about tomorrow? Predicting experimental choice behavior and life outcomes from a survey measure of present bias

Dovern-Pinger, Pia Rosina - 2017

Using a representative sample of the German adult population, this paper investigates the extent to which a survey … related to in-vestments in financial assets and human capital. The results are threefold. First, the survey and experimental … measures of present bias are significantly related. Second, the survey measure predicts choices between immediate and delayed …

Persistent link: https://www.econbiz.de/10011748463

Sophistication about self-control

Cobb-Clark, Deborah A.; Dahmann, Sarah Christina; … - 2021

We propose a broadly applicable empirical approach to classify individuals as time-consistent versus native or sophisticated regarding their self-control limitations. Operationalizing our approach based on nationally representative data reveals that self-control problems are pervasive and that...

Persistent link: https://www.econbiz.de/10012643583

A theoretical and experimental appraisal of five risk elicitation methods

Crosetto, Paolo; Filippin, Antonio - 2013

We perform a comparative analysis of five incentivized tasks used to elicit risk preferences. Theoretically, we compare the elicitation methods in terms of completeness of the range of the estimates as well as their precision, the likelihood of triggering loss aversion, and problems arising when...

Persistent link: https://www.econbiz.de/10010294939

Health shocks and risk aversion

Decker, Simon; Schmitz, Hendrik - 2015

Risk preferences are typically assumed to be constant for an individual across the life cycle. In this paper we empirically assess if they are time varying. Specifically, we analyse whether health shocks influence individual risk aversion. We follow an innovative approach and use grip strength...

Persistent link: https://www.econbiz.de/10011439785

The "bomb" risk elicitation task

Crosetto, Paolo; Filippin, Antonio - 2012

This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes. Subjects decide how many boxes to collect out of 100, one of which containing a bomb. Earnings increase linearly with the number of boxes accumulated but are zero if the bomb is...

Persistent link: https://www.econbiz.de/10010290717

The "Bomb" Risk Elicitation Task

Crosetto, Paolo; Filippin, Antonio - Forschungsbasierte Infrastruktureinrichtung … - 2012

Persistent link: https://www.econbiz.de/10010598573

A Theoretical and Experimental Appraisal of Five Risk Elicitation Methods

Crosetto, Paolo; Filippin, Antonio - Forschungsbasierte Infrastruktureinrichtung … - 2013

Persistent link: https://www.econbiz.de/10010635678

How do households allocate risk?

Engel, Christoph; Fedorets, Alexandra; Gorelkina, Olga - 2018

Individuals often have to decide to which degree of risk they want to expose others, or how much risk to accept if their choice has an externality on third parties. One typical application is a household. We run an experiment in the German Socio-Economic Panel with two members from 494...

Persistent link: https://www.econbiz.de/10011960821

Willingness to take risk: The role of risk conception and optimism

Dohmen, Thomas; Quercia, Simone; Willrodt, Jana - 2019

We show that the disposition to focus on favorable or unfavorable outcomes of risky situations affects willingness to take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is strongly associated with optimism, a stable facet of...

Persistent link: https://www.econbiz.de/10011994095

Parental separation and the formation of economic preferences

Dahmann, Sarah Christina; Kettlewell, Nathan; Lam, Jack - 2022

household survey dataset, which allows us to match respondents to their siblings and parents. Our results indicate that …

Persistent link: https://www.econbiz.de/10013164141