Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior
University of Innsbruck; University of Gothenburg - Department of Economics; Institute for the Study of Labor (IZA)
Martin G. Kocher
Ludwig-Maximilians-Universität Munich - Faculty of Economics; Göteborg University - School of Business, Economics and Law
affiliation not provided to SSRN
IZA Discussion Paper No. 5404
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.
Number of Pages in PDF File: 49
Keywords: experiments with children and adolescents, risk, ambiguity, time preferences, health status, savings, external validity, field behavior
JEL Classification: C91, C93, D81, D90working papers series
Date posted: January 3, 2011
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