An investigation of individual preferences: consistency across incentives and stability over time

Emmanouil Mentzakis and Jingjing Zhang

No 70, ECON - Working Papers from Department of Economics - University of Zurich

Abstract: This study compares individual preferences across incentives (i.e., hypothetical vs. real incentives) and over time (i.e. elicitation at two different points in time) in a choice experiment involving charitable donating decisions. We provide evidence of hypothetical bias but little evidence of instability of individual giving. There is significant heterogeneity in individual preferences, with real incentives either dampening or pronouncing the observed donating behaviour. Neither hypothetical bias nor instability is observed when we examine the propensity of individuals to make internally consistent decisions over identical choices.

Keywords: Individual preference; hypothetical bias; time inconsistency; discrete choice experiments; charitable donations (search for similar items in EconPapers)
JEL-codes: C91 D11 D91 H40 (search for similar items in EconPapers)
Date: 2012-04
New Economics Papers: this item is included in nep-cbe, nep-dcm, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:zur:econwp:070

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