Replication Report: Concentration Bias in Intertemporal Choice

Lachlan Deer, Sigmund Ellingsrud, Amund H. Kordt and Felix Heuer

No 42, I4R Discussion Paper Series from The Institute for Replication (I4R)

Abstract: Dertwinkel-Kalt et al. (2022) examine the effect of concentration bias - the tendency to overweight advantages that are concentrated in time relative to costs that are spread over multiple time periods - on intertemporal choice in a laboratory experiment. In their preferred empirical specification, the authors report that concentration bias leads to a 22.4% higher willingness to work than explained by a standard model of intertemporal discounting. We conduct a computational replication of the main results of the paper using the same procedures and original data. Our results confirm the sign, magnitude and statistical significance of the author’s reported estimates across each of their five main findings.

Keywords: concentration bias; intertemporal choice; laboratory experiment; computational replication (search for similar items in EconPapers)
JEL-codes: D01 D9 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-dcm and nep-exp
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