Published August 2015
| Submitted + Supplemental Material
Journal Article
Open
Measuring time preferences: A comparison of experimental methods
Chicago
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Abstract
Eliciting time preferences has become an important component of both laboratory and field experiments, yet there is no consensus as how to best measure discounting. We examine the predictive validity of two recent, simple, easily administered, and individually successful elicitation tools: convex time budgets (CTB) and double multiple price lists (DMPL). Using similar methods, the CTB and DMPL are compared using within- and out-of-sample predictions. While each perform equally well within sample, the CTB significantly outperforms the DMPL on out-of-sample measures.
Additional Information
© 2015 Elsevier B.V. Received 20 February 2015, Revised 18 May 2015, Accepted 20 May 2015, Available online 4 June 2015. We thank Steffen Andersen and, especially, Glenn Harrison for the generous comments which greatly improved the quality of this research. We are also grateful to the National Science Foundation, grant SES-0962484 (Andreoni) and grant SES-1024683 (Andreoni and Sprenger) for financial support. This research was approved by the UCSD IRB.Attached Files
Submitted - w19392.pdf
Supplemental Material - 1-s2.0-S0167268115001535-mmc1.pdf
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Additional details
- Eprint ID
- 104487
- Resolver ID
- CaltechAUTHORS:20200721-140005440
- NSF
- SES-0962484
- NSF
- SES-1024683
- Created
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2020-07-21Created from EPrint's datestamp field
- Updated
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2021-11-16Created from EPrint's last_modified field