Masters of our time: Impatience and self-control in high-level chess games
AbstractThis paper presents empirical findings on gender differences in time preference and inconsistency based on international, high-level chess panel data with a large number of observations, including a control for ability. Due to the time constraint in chess, it is possible to study performance and choices related to time preferences. The results suggest that men play shorter games on average and pay a higher price to end the game sooner. They also perform worse in shorter game compared to women but better in longer games. Furthermore, women perform worse in time pressure (the 40th move time control). The results are consistent with the interpretation that men are more impatient (with a lower discount factor) but also more inconsistent in the sense that they tend to be too impatient. Women, on the other hand, are more inconsistent as they tend to over-consume reflection time in the beginning, leading to time pressure later.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 82 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/jebo
Time preference; Time inconsistency; Impatience; Gender; Self-control problems;
Find related papers by JEL classification:
- J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
- D03 - Microeconomics - - General - - - Behavioral Economics; Underlying Principles
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
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