Framing Effects and Impatience: Evidence from a Large Scale Experiment

Eline van der Heijden (), Tobias Klein, Wieland Müller and Jan Potters

No 7085, IZA Discussion Papers from IZA Network @ LISER

Abstract: We confront a representative sample of one 1,102 Dutch individuals with a series of incentivized investment decisions and also elicit their time preferences. There are two treatments that differ in the frequency at which individuals decide about the invested amount. The low frequency treatment stimulates decision makers to frame a sequence of risky decisions broadly rather than narrowly. We find that the framing effect is significantly larger for impatient than for patient individuals. This result is robust to controlling for various economic and demographic variables and for cognitive ability.

Keywords: framing; choice under risk; time preference; experiment (search for similar items in EconPapers)
JEL-codes: C93 D03 D81 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2012-12
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-neu and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Published - published in: Journal of Economic Behavior and Organization, 2012, 84(2), 701-711

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Related works:
Journal Article: Framing effects and impatience: Evidence from a large scale experiment (2012)
Working Paper: Framing effects and impatience: Evidence from a large scale experiment (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:iza:izadps:dp7085

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