The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences

Armin Falk, Anke Becker (), Thomas Dohmen, David Huffman and Uwe Sunde ()
Additional contact information
Anke Becker: Harvard Business School, Boston, Massachusetts 02163
Uwe Sunde: University of Munich, Munich D-80539, Germany

Management Science, 2023, vol. 69, issue 4, 1935-1950

Abstract: Incentivized choice experiments are a key approach to measuring preferences in economics but are also costly. Survey measures are a low-cost alternative but can suffer from additional forms of measurement error due to their hypothetical nature. This paper seeks to leverage the strengths of both approaches by proposing a new survey module on risk aversion, time discounting, trust, altruism, positive and negative reciprocity, in which survey items are selected based on ability to predict choices in corresponding, incentivized experiments. The methodology and results provided in the paper can also potentially provide a model for researchers who have specific requirements and want to design their own modules.

Keywords: survey validation; experiment; preference measurement (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (86)

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http://dx.doi.org/10.1287/mnsc.2022.4455 (application/pdf)

Related works:
Working Paper: The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences (2016)
Working Paper: The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences (2016)
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