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Impatience and uncertainty: Experimental decisions predict adolescents? field behavior

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Author Info

  • Matthias Sutter

    ()

  • Martin G. Kocher

    ()

  • Daniela Ruetzler

    ()

  • Stefan T. Trautmann

    ()

Abstract

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment. We relate experimental choices to field behavior. Experimental measures of impatience are found to be significant redictors of health related field behavior and saving decisions. In particular, more impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index (BMI) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of field behavior.

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Bibliographic Info

Paper provided by Faculty of Economics and Statistics, University of Innsbruck in its series Working Papers with number 2010-29.

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Length: 56
Date of creation: 2010
Date of revision:
Handle: RePEc:inn:wpaper:2010-29

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Keywords: experiments with children and adolescents; risk; ambiguity; time preferences; health status; savings; external validity; field behavior.;

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References

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Citations

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Cited by:
  1. Michal Bauer & Julie Chytilová & Barbara Pertold-Gebicka, 2012. "Parental Background and Other-Regarding Preferences in Children," Working Papers IES 2012/10, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Apr 2012.
  2. Golsteyn, Bart H.H. & Grönqvist, Hans & Lindahl, Lena, 2013. "Time Preferences and Lifetime Outcomes," IZA Discussion Papers 7165, Institute for the Study of Labor (IZA).
  3. Dreber, Anna & von Essen, Emma & Ranehill, Eva, 2011. "In Bloom: Gender Differences in Preferences among Adolescents," Working Paper Series in Economics and Finance 734, Stockholm School of Economics, revised 27 Jun 2012.
  4. Dohmen, Thomas & Falk, Armin & Huffman, David & Sunde, Uwe, 2012. "Interpreting Time Horizon Effects in Inter-Temporal Choice," IZA Discussion Papers 6385, Institute for the Study of Labor (IZA).
  5. van der Heijden, Eline & Klein, Tobias J. & Müller, Wieland & Potters, Jan, 2012. "Framing Effects and Impatience: Evidence from a Large Scale Experiment," IZA Discussion Papers 7085, Institute for the Study of Labor (IZA).
  6. Wieland Mueller & Eline van der Heijden & Tobias J. Klein & Jan Potters, 2011. "Nudges and Impatience: Evidence from a Large Scale Experiment," Vienna Economics Papers 1110, University of Vienna, Department of Economics.
  7. Paolo Crosetto & Antonio Filippin, 2013. "A Theoretical and Experimental Appraisal of Five Risk Elicitation Methods," Jena Economic Research Papers 2013-009, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  8. Jeannette Brosig-Koch & Timo Heinrich & Christoph Helbach, 2012. "Exploring the Capability to Backward Induct – An Experimental Study with Children and Young Adults," Ruhr Economic Papers 0360, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  9. MIchal Bauer & Julie Chytilova & Barbara Pertold-Gebicka, 2011. "Effects of Parental Background on Other-regarding Preferences in Children," CERGE-EI Working Papers wp450, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  10. Martin G. Kocher & Peter Martinsson & Kristian Ove R. Myrseth & Conny Wollbrant, 2013. "Strong, Bold, and Kind: Self-Control and Cooperation in Social Dilemmas," CESifo Working Paper Series 4200, CESifo Group Munich.
  11. Thomas Vischer & Thomas Dohmen & Armin Falk & David Huffman & Jürgen Schupp & Uwe Sunde & Gert G. Wagner, 2012. "Validating an Ultra-Short Survey Measure of Patience," SOEPpapers on Multidisciplinary Panel Data Research 499, DIW Berlin, The German Socio-Economic Panel (SOEP).
  12. Dreber, Anna & von Essen, Emma & Ranehill, Eva, 2011. "Age at pubertal onset and educational outcomes," Research Papers in Economics 2011:26, Stockholm University, Department of Economics.
  13. Dreber, Anna & von Essen, Emma & Ranehill, Eva, 2011. "Gender and Competition in Adolescence: Task Matter," Research Papers in Economics 2011:14, Stockholm University, Department of Economics, revised 08 Mar 2013.
  14. Vieider, Ferdinand M. & Chmura, Thorsten & Martinsson, Peter, 2012. "Risk attitudes, development, and growth: Macroeconomic evidence from experiments in 30 countries," Discussion Papers, WZB Junior Research Group Risk and Development SP II 2012-401, Social Science Research Center Berlin (WZB).

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