Time Preferences and Lunar New Year: An Experiment

Nguyen Tam L., Bryan Weber and Huynh Luu Duc Toan ()
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Nguyen Tam L.: University of Economics Ho Chi Minh City, Ho Chi Minh City, Vietnam
Huynh Luu Duc Toan: Department of Business Analytics and Applied Economics, Queen Mary University of London, London, UK

The B.E. Journal of Economic Analysis & Policy, 2024, vol. 24, issue 4, 1307-1319

Abstract: We conduct an experiment to examine how the attitude toward time preference changed when there was a time-related occasion, specifically the Lunar New Year. We anticipated that individuals would be more patient as measured by a battery of questions after the New Year. However, we find that individuals only appear more patient when those questions pose the amount of time they have to wait in year increments rather than other units of time. More experimentation is necessary to identify the peculiarities of framing questions around this “New Years Effect.”

Keywords: difference-in-difference; Lunar New Year; time preferences (search for similar items in EconPapers)
JEL-codes: D11 D90 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1515/bejeap-2023-0360

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