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Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior

Author

Listed:
  • Sutter, Matthias

    () (Max Planck Institute for Research on Collective Goods)

  • Kocher, Martin G.

    () (University of Munich)

  • Glätzle-Rützler, Daniela

    () (University of Innsbruck)

  • Trautmann, Stefan T.

    () (Tilburg University)

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 predictors 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.

Suggested Citation

  • Sutter, Matthias & Kocher, Martin G. & Glätzle-Rützler, Daniela & Trautmann, Stefan T., 2010. "Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior," IZA Discussion Papers 5404, Institute of Labor Economics (IZA).
  • Handle: RePEc:iza:izadps:dp5404
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    More about this item

    Keywords

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

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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