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Toward an Understanding of the Development of Time Preferences: Evidence from Field Experiments

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Listed:
  • James Andreoni
  • Michael A. Kuhn
  • John A. List
  • Anya Samek
  • Kevin Sokal
  • Charles Sprenger

Abstract

Time preferences have been correlated with a range of life outcomes, yet little is known about their early development. We conduct a field experiment to elicit time preferences of over 1,200 children ages 3-12, who make several intertemporal decisions. To shed light on how such primitives form, we explore various channels that might affect time preferences, from background characteristics to the causal impact of an early schooling program that we developed and operated. Our results suggest that time preferences evolve substantially during this period, with younger children displaying more impatience than older children. We also find a strong association with race: black children, relative to white or Hispanic children, are more impatient. Finally, assignment to different schooling opportunities is not significantly associated with child time preferences.

Suggested Citation

  • James Andreoni & Michael A. Kuhn & John A. List & Anya Samek & Kevin Sokal & Charles Sprenger, 2019. "Toward an Understanding of the Development of Time Preferences: Evidence from Field Experiments," NBER Working Papers 25590, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:25590
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    1. Toward an Understanding of the Development of Time Preferences: Evidence from Field Experiments
      by maximorossi in NEP-LTV blog on 2019-03-27 14:32:20

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    4. Basiglio Stefania & Foresta Alessandra & Turati Gilberto, 2021. "Impatience and crime. Evidence from the NLSY97," Working papers 073, Department of Economics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino.
    5. Andreoni, James & Di Girolamo, Amalia & List, John A. & Mackevicius, Claire & Samek, Anya, 2020. "Risk preferences of children and adolescents in relation to gender, cognitive skills, soft skills, and executive functions," Journal of Economic Behavior & Organization, Elsevier, vol. 179(C), pages 729-742.
    6. Brenøe, Anne Ardila & Epper, Thomas, 2019. "Parenting Values Moderate the Intergenerational Transmission of Time Preferences," Economics Working Paper Series 1917, University of St. Gallen, School of Economics and Political Science.
    7. Datar, Ashlesha & Nicosia, Nancy & Samek, Anya, 2023. "Heterogeneity in place effects on health: The case of time preferences and adolescent obesity," Economics & Human Biology, Elsevier, vol. 49(C).
    8. Silvia Angerer & Jana Bolvashenkova & Daniela Glätzle-Rützler & Philipp Lergetporer & Matthias Sutter, 2021. "Children’s patience and school-track choices several years later: Linking experimental and field data," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2021_12, Max Planck Institute for Research on Collective Goods.
    9. Lukas Kiessling & Shyamal Chowdhury & Hannah Schildberg-Hörisch & Matthias Sutter, 2021. "Parental Paternalism and Patience," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2021_03, Max Planck Institute for Research on Collective Goods.
    10. Brenøe, Anne Ardila & Epper, Thomas, 2022. "Parenting values and the intergenerational transmission of time preferences," European Economic Review, Elsevier, vol. 148(C).
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    13. Azevedo E Castro De Cardim,Joana & Amaro Da Costa Luz Carneiro,Pedro Manuel & Carvalho,Leandro S. & De Walque,Damien B. C. M., 2022. "Early Education, Preferences, and Decision-Making Abilities," Policy Research Working Paper Series 10187, The World Bank.
    14. Zexuan Wang & Ismaël Rafaï & Marc Willinger, 2023. "Does age affect the relation between risk and time preferences? Evidence from a representative sample," Southern Economic Journal, John Wiley & Sons, vol. 90(2), pages 341-368, October.
    15. Yamamura, Eiji & Kang, Myong-Il & Ikeda, Shinsuke, 2020. "Effect of female elementary-school homeroom teachers on time preferences in adulthood," MPRA Paper 99860, University Library of Munich, Germany.
    16. Ashlesha Datar & Nancy Nicosia & Anya Samek, 2022. "Heterogeneity in Place Effects on Health: The Case of Time Preferences and Adolescent Obesity," NBER Working Papers 29935, National Bureau of Economic Research, Inc.
    17. Alfonso, Antonio & Brañas-Garza, Pablo & Jorrat, Diego & Lomas, Pablo & Prissé, Benjamin & Vasco, Mónica & Vázquez-De Francisco, María J., 2023. "The adventure of running experiments with teenagers," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 106(C).
    18. Angerer, Silvia & Bolvashenkova, Jana & Glätzle-Rützler, Daniela & Lergetporer, Philipp & Sutter, Matthias, 2023. "Children’s patience and school-track choices several years later: Linking experimental and field data," Journal of Public Economics, Elsevier, vol. 220(C).
    19. Charness, Gary & List, John A. & Rustichini, Aldo & Samek, Anya & Van De Ven, Jeroen, 2019. "Theory of mind among disadvantaged children: Evidence from a field experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 166(C), pages 174-194.
    20. Timothy N. Cason & Daniel Friedman & Ed Hopkins, 2021. "An Experimental Investigation of Price Dispersion and Cycles," Journal of Political Economy, University of Chicago Press, vol. 129(3), pages 789-841.
    21. Samek, Anya & Gray, Andre & Datar, Ashlesha & Nicosia, Nancy, 2021. "Adolescent time and risk preferences: Measurement, determinants and field consequences," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 460-488.
    22. Pierre-Guillaume Méon & Robin Rampaer & David Raymaekers, 2021. "One-minute earthquake, years of patience: Evidence from Mexico on the effect of earthquake exposure on time preference," Working Papers CEB 21-015, ULB -- Universite Libre de Bruxelles.
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    24. Yokoo, Hide-Fumi & 横尾, 英史, 2020. "Ethics of randomized field experiments: Evidence from a randomized survey experiment," Discussion Papers 2020-07, Graduate School of Economics, Hitotsubashi University.
    25. Tomáš Želinský, 2021. "Intertemporal Choices of Children and Adults from Poor Roma Communities: A Case Study from Slovakia," Eastern European Economics, Taylor & Francis Journals, vol. 59(4), pages 378-405, July.

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    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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