Global Evidence on Economic Preferences

Armin Falk, Anke Becker (), Thomas Dohmen, Benjamin Enke, David Huffman and Uwe Sunde

CRC TR 224 Discussion Paper Series from University of Bonn and University of Mannheim, Germany

Abstract: This paper studies the global variation in economic preferences. For this purpose, we present the Global Preference Survey (GPS), an experimentally validated survey dataset of time preference, risk preference, positive and negative reciprocity, altruism, and trust from 80,000 individuals in 76 countries. The data reveal substantial heterogeneity in preferences across countries, but even larger within-country heterogeneity. Across individuals, preferences vary with age, gender, and cognitive ability, yet these relationships appear partly country specific. At the country level, the data reveal correlations between preferences and bio-geographic and cultural variables such as agricultural suitability, language structure, and religion. Variation in preferences is also correlated with economic outcomes and behaviors. Within countries and subnational regions, preferences are linked to individual savings decisions, labor market choices, and prosocial behaviors. Across countries, preferences vary with aggregate outcomes ranging from per capita income, to entrepreneurial activities, to the frequency of armed conflicts.

JEL-codes: D01 D03 F00 (search for similar items in EconPapers)
Pages: 90
Date: 2018-03
New Economics Papers: this item is included in nep-soc
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Citations: View citations in EconPapers (825)

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Related works:
Journal Article: Global Evidence on Economic Preferences* (2018)
Working Paper: Global Evidence on Economic Preferences (2018)
Working Paper: Global Evidence on Economic Preferences (2018)
Working Paper: Global Evidence on Economic Preferences (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:bon:boncrc:crctr224_2018_005

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