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Time preferences in decisions for others

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  • Rau, Holger A.

Abstract

This paper analyzes in a within-subjects experiment time preferences when peopledecide for themselves and on behalf of others. The data show that subjects becomemore impatient when making decisions, which affect the payoff of others. Thechange can be explained by altruistic subjects who increase their focus on earlyconsumption when responsible for others' payoffs

Suggested Citation

  • Rau, Holger A., 2020. "Time preferences in decisions for others," University of Göttingen Working Papers in Economics 395, University of Goettingen, Department of Economics.
  • Handle: RePEc:zbw:cegedp:395
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    File URL: https://www.econstor.eu/bitstream/10419/219024/1/1700118161.pdf
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    References listed on IDEAS

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    8. Quang Nguyen & Colin Camerer & Tomomi Tanaka, 2010. "Risk and Time Preferences Linking Experimental and Household Data from Vietnam," Post-Print halshs-00547090, HAL.
    9. 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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    Citations

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    Cited by:

    1. Müller, Stephan & Rau, Holger A., 2020. "Economic preferences and compliance in the social stress test of the Corona crisis," University of Göttingen Working Papers in Economics 391, University of Goettingen, Department of Economics.
    2. Müller, Stephan & Rau, Holger A., 2021. "Economic preferences and compliance in the social stress test of the COVID-19 crisis," Journal of Public Economics, Elsevier, vol. 194(C).
    3. S. A. Lipman & V. T. Reckers-Droog & M. Karimi & M. Jakubczyk & A. E. Attema, 2021. "Self vs. other, child vs. adult. An experimental comparison of valuation perspectives for valuation of EQ-5D-Y-3L health states," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 22(9), pages 1507-1518, December.

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    More about this item

    Keywords

    Decisions fo rOthers; Experiment; Time Preferences;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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