EconStor >
Forschungsinstitut zur Zukunft der Arbeit (IZA), Bonn >
IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/51614
  
Title:Which measures of time preference best predict outcomes? Evidence from a large-scale field experiment PDF Logo
Authors:Burks, Stephen V.
Carpenter, Jeffrey P.
Goette, Lorenz
Rustichini, Aldo
Issue Date:2011
Series/Report no.:Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5808
Abstract:Economists and psychologists have devised numerous instruments to measure time preferences and have generated a rich literature examining the extent to which time preferences predict important outcomes; however, we still do not know which measures work best. With the help of a large sample of non-student participants (truck driver trainees) and administrative data on outcomes, we gather four different time preference measures and test the extent to which they predict both on their own and when they are all forced to compete head-to-head. Our results suggest that the now familiar (β, δ) formulation of present bias and exponential discounting predicts best, especially when both parameters are used.
Subjects:time preference
impatience
discounting
present bias
field experiment
trucker
JEL:C93
D90
Persistent Identifier of the first edition:urn:nbn:de:101:1-20110629976
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

Files in This Item:
File Description SizeFormat
66955085X.pdf227.39 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/51614

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.