Time Preferences in the Gain and Loss Domains: An Incentivized Experiment

Shohei Yamamoto (), Shotaro Shiba and Nobuyuki Hanaki
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Shohei Yamamoto: Hitotsubashi University Business School
Shotaro Shiba: Waseda University

No 2012, Working Papers from Waseda University, Faculty of Political Science and Economics

Abstract: Present-biased preferences in intertemporal decisions have been actively investigated. While these preferences have been elicited through incentivized experiments in the gain domain to avoid potential hypothetical bias, they have been elicited only through hypothetical experiments in the loss domain. We conducted a two-stage experiment that enabled us to elicit these preferences in the gain and loss domains in an incentive-compatible way. We found that present bias, which is exhibited in both domains, is more severe in the loss domain.

Keywords: Intertemporal choice; Present bias; Gains and losses (search for similar items in EconPapers)
JEL-codes: C91 D91 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2020-09
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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