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Gender, Affect and Intertemporal Consistency: An Experimental Approach

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Author Info
Kendra N. McLeish () (University of Calgary)
Robert J. Oxoby () (University of Calgary and IZA)

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Abstract

We conduct experiments in which participants made multiple intertemporal decisions throughout a seven week period. In addition to exploring dynamic consistency and the stability of single period discount rates, our experiments introduce a manipulation to identify the role of positive and negative mood/affect in intertemporal choice. Our results demonstrate that, while individuals’ single period discount rates are stable over time, there is evidence of dynamic inconsistency. While we find no differences in the discount rates of men and women, we find gender differences in the character of hyperbolic discounting in which women display greater patience in their "present bias". We also identify a gender-mood interaction: Negative mood in women yields increased impulsiveness while inducing positive affect in women or affect (positive or negative) in men yields little change.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2663.

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Length: 40 pages
Date of creation: Mar 2007
Date of revision:
Handle: RePEc:iza:izadps:dp2663

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Related research
Keywords: intertemporal; choice; experiments; gender; affect;

Find related papers by JEL classification:
C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    Other versions:
  2. Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutstrom & Melonie B. Williams, 2005. "Eliciting Risk and Time Preferences Using Field Experiments: Some Methodological Issues," Artefactual Field Experiments 0054, The Field Experiments Website. [Downloadable!]
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  6. Tracy M. Turner, 2003. "Does Investment Risk Affect the Housing Decisions of Families?," Economic Inquiry, Oxford University Press, vol. 41(4), pages 675-691, October. [Downloadable!] (restricted)
  7. Robert Oxoby, 2001. "Cognitive Dissonance, Status, and Growth of the Underclass," Working Papers 2001-02, Department of Economics, University of Calgary, revised 05 Dec 2001.
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  8. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
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  13. William Greene, 2004. "The behaviour of the maximum likelihood estimator of limited dependent variable models in the presence of fixed effects," Econometrics Journal, Royal Economic Society, vol. 7(1), pages 98-119, 06. [Downloadable!] (restricted)
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  16. Ted O'Donoghue & Matthew Rabin, 2001. "Choice And Procrastination," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 121-160, February. [Downloadable!] (restricted)
  17. Shapiro, Jesse M., 2005. "Is there a daily discount rate? Evidence from the food stamp nutrition cycle," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 303-325, February. [Downloadable!] (restricted)
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  19. George Loewenstein & Ted O'Donoghue & Matthew Rabin, 2003. "Projection Bias In Predicting Future Utility," The Quarterly Journal of Economics, MIT Press, vol. 118(4), pages 1209-1248, November. [Downloadable!] (restricted)
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  20. Steffen Andersen & Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutström, 2008. "Eliciting Risk and Time Preferences," Econometrica, Econometric Society, vol. 76(3), pages 583-618, 05. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Signe Krogstrup & Sébastien Wälti, 2007. "Women and Budget Deficits," HEI Working Papers 13-2007, Economics Section, The Graduate Institute of International Studies, revised Apr 2007. [Downloadable!]
    Other versions:
  2. David L. Dickinson & Robert J. Oxoby, 2007. "Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects," IZA Discussion Papers 2832, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
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