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Published May 2021 | Supplemental Material + Submitted + Published
Journal Article Open

Meta-Analysis of Present-Bias Estimation using Convex Time Budgets

Abstract

We examine 220 estimates of the present-bias parameter from 28 articles using the Convex Time Budget protocol. The literature shows that people are on average present-biased, but estimates exhibit substantial heterogeneity across studies. There is evidence of modest selective reporting in the direction of over-reporting present bias. The primary source of heterogeneity is the type of reward, either monetary or non-monetary, but this effect is weakened after correcting for selective reporting. In studies using monetary rewards, the delay until the issue of the reward associated with the 'current' time period influences estimates of the present-bias parameter.

Additional Information

© The Author(s) 2020. Published by Oxford University Press on behalf of Royal Economic Society. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited. This paper was received on 23 July 2019 and accepted on 15 September 2020. Published: 29 September 2020. The Editor was Rachel Kranton. The data and codes for this paper are available on the Journal website. They were checked for their ability to reproduce the results presented in the paper. This is a part of the project 'A Large-Scale, Interdisciplinary Meta-Analysis on Behavioral Economics Parameters' supported by the Social Science Meta-Analysis and Research Transparency (SSMART) Grants from Berkeley Initiative for Transparency in the Social Sciences (BITSS). We thank Stefano DellaVigna, Tomáš Havránek, Yves Le Yaouanq, Peter Schwardmann, Charles Sprenger, Tom Stanley, the editor and the two anonymous referees for helpful comments. We are also grateful for the feedback provided by numerous seminar audiences at MAER-Net Colloquium 2019, CESifo Area Conference on Behavioural Economics 2019 and the European Winter Meeting of the Econometric Society 2019. Imai acknowledges financial support by the Deutsche Forschungsgemeinschaft through CRC TRR 190. Rutter acknowledges the support of the 2016 SURF Fellowship from the California Institute of Technology. This research was approved under Caltech IRB Number 16-0665.

Attached Files

Published - ueaa115.pdf

Submitted - present-bias_meta-analysis.pdf

Supplemental Material - ueaa115_online_apendix.pdf

Supplemental Material - ueaa115_replication_package.zip

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Additional details

Created:
August 20, 2023
Modified:
October 20, 2023