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How to measure time preferences in children: a comparison of two methods

Author

Listed:
  • Silvia Angerer

    (Institute for Advanced Studies Carinthia)

  • Philipp Lergetporer

    (Ifo Institute at the University of Munich and CESifo)

  • Daniela Glätzle-Rützler

    (University of Innsbruck)

  • Matthias Sutter

    (University of Innsbruck
    University of Cologne)

Abstract

We measure time preferences in a sample of 561 children aged 7–11 years. Using a within-subject design, we compare the behavior of our subjects using two distinct experimental measures of time preferences: a standard choice list with multiple decisions and a single choice time-investment-exercise requiring one decision only. We find that both measures yield very similar aggregate results, correlate significantly within subjects and can be explained by basically the same explanatory variables. Advantages and disadvantages of both measures are discussed. Our findings are relevant for the design of experiments to measure time preferences.

Suggested Citation

  • Silvia Angerer & Philipp Lergetporer & Daniela Glätzle-Rützler & Matthias Sutter, 2015. "How to measure time preferences in children: a comparison of two methods," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 1(2), pages 158-169, December.
    • Handle: RePEc:spr:jesaex:v:1:y:2015:i:2:d:10.1007_s40881-015-0016-0
    DOI: 10.1007/s40881-015-0016-0
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    More about this item

    Keywords

    Time preferences; Experiment; Method; Children;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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