Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/237322
Authors: 
Kölle, Felix
Wenner, Lukas
Year of Publication: 
2021
Series/Report no.: 
ECONtribute Discussion Paper No. 077
Abstract: 
We investigate dynamically inconsistent time preferences across contexts with and without interpersonal trade-offs. In a longitudinal experiment participants make a series of intertemporal allocation decisions of real-effort tasks between themselves and another person. Our results reveal that agents are present-biased when making choices that only affect themselves but not when choosing for others. Despite this asymmetry, we find no evidence for time-inconsistent generosity, i.e., when choices involve trade-offs between own and other's consumption. Structural estimations reveal no individual-level correlation of present bias across contexts. Discounting in social situations thus seems to be conceptually different from discounting in individual situations.
Subjects: 
Present bias
altruism
stability
real effort
dictator game
intertemporal choice
JEL: 
C91
D64
D90
Document Type: 
Working Paper

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