How Time Preferences Differ: Evidence from 45 Countries
We present results from the first large-scale international survey on time discounting, conducted in 45 countries. Cross-country variation cannot simply be explained by economic variables such as interest rates or in ation. In particular, we find strong evidence for cultural differences, as measured by the Hofstede cultural dimensions. For example, high levels of Uncertainty Avoidance or Individualism are both associated with strong hyperbolic discounting. Moreover, as application of our data, we find evidence for an impact of time preferences on the capability of technological innovations in a country and on environmental protection.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
| Length: | 55 pages |
| Date of creation: | 31 Oct 2011 |
| Handle: | RePEc:hhs:nhhfms:2011_018 |
| Contact details of provider: | Postal: NHH, Department of Business and Management Science, Helleveien 30, N-5045 Bergen, Norway Phone: +47 55 95 92 93 Fax: +47 55 95 96 50 Web page: http://www.nhh.no/en/research-faculty/department-of-business-and-management-science.aspx Email: More information through EDIRC
|
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.:
- Mahajna, Ahmad & Benzion, Uri & Bogaire, Ravid & Shavit, Tal, 2008.
"Subjective discount rates among Israeli Arabs and Israeli Jews,"
Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics),
Elsevier, vol. 37(6), pages 2513-2522, December.
- Uri Ben-Zion & Ahmad Mahajna & Ravid Bogaire & TAL SHAVIT, 2007. "Subjective Discount Rates Among Israeli Arabs And Israeli Jews," Working Papers 0710, Ben-Gurion University of the Negev, Department of Economics.
- Huang, Rocco R., 2007. "Distance and trade: Disentangling unfamiliarity effects and transport cost effects," European Economic Review, Elsevier, vol. 51(1), pages 161-181, January.
- Rocco Huang, 2005. "Distance and Trade: Disentangling unfamiliarity effects and transport cost effects," International Trade 0511010, EconWPA.
- Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
- Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
- Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
- Yesuf, Mahmud & Bluffstone, Randall, 2008. "Wealth and Time Preference in Rural Ethiopia," Discussion Papers dp-08-16-efd, Resources For the Future.
- Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207.
- Read, Daniel & Roelofsma, Peter H. M. P., 2003. "Subadditive versus hyperbolic discounting: A comparison of choice and matching," Organizational Behavior and Human Decision Processes, Elsevier, vol. 91(2), pages 140-153, July.
- David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 443-478.
- Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
- E. S. Phelps & R. A. Pollak, 1968. "On Second-Best National Saving and Game-Equilibrium Growth," Review of Economic Studies, Oxford University Press, vol. 35(2), pages 185-199. Full references (including those not matched with items on IDEAS)