Can Intertemporal Choice Experiments Elicit Time Preferences for Consumption? Yes

Glenn Harrison and J. Swarthout

No 2011-09, Experimental Economics Center Working Paper Series from Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University

Abstract: The most popular experimental method for eliciting time preferences involves subjects making choices over smaller, sooner amounts of money and larger, later amounts of money. Under some theoretically possible configurations of preferences and procedures, the discount rates inferred from these choices could lead to misleading inferences about time preferences for consumption. Using a direct empirical test, we show that those configurations of preferences are empirically implausible.

Pages: 16
Date: 2011-05
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:exc:wpaper:2011-09

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