Impatience and Inconsistency in Intertemporal Choice: An Experimental Analysis

María José Muñoz Torrecillas, Taiki Takahashi, Jesús Gil Roales-Nieto, Salvador Cruz Rambaud, Zaida Callejón Ruiz and Blas Torrecillas Jover

Journal of Behavioral Finance, 2018, vol. 19, issue 2, 190-198

Abstract: In this article the experiment carried out by Takahashi et al. [2009] is replicated to analyze the influence of culture, gender, origin (urban or rural), and socioeconomic level on the impulsivity and consistency of decision-making processes concerning monetary gains and losses. The results indicate that Spanish students show inconsistency, and more impulsivity over gains (i.e., more impatience, as they discount delayed outcomes more rapidly) than do Japanese and American students. Additionally, participants from urban areas show more impatience over gains than do participants from rural ones, women are more impatient than men are over losses, and participants of different socioeconomic levels show differences in their impulsivity parameters.

Date: 2018
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DOI: 10.1080/15427560.2017.1374274

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