Creating Investment Scheme with State Space Modeling

James Andreoni, Michael Callen, Muhammad Karrar Hussain, Muhammad Yasir Khan and Charles Sprenger
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Muhammad Karrar Hussain: Rady School of Management (UCSD), University of California San Diego
Muhammad Yasir Khan: Haas School of Business, University of California Berkeley
Charles Sprenger: Rady School of Management, University of California, San Diego

No CIRJE-F-1039, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: We use structural estimates of time preferences to customize incentives for a sample of polio vaccinators in Lahore, Pakistan. We measure time preferences using intertemporal allocations of effort, and derive the mapping between these structural estimates and individually optimized incentives. We evaluate the effect of matching contract terms to discounting parameters in a subsequent experiment with the same vaccinators. This exercise provides a test of the specific point predictions given by structural estimates of discounting parameters. We demonstrate that tailoring contract terms to individual discounting moves allocation behavior significantly towards the intended objective.

Pages: 81 pages
Date: 2017-02
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