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Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field BehaviorMatthias SutterUniversity of Innsbruck; University of Gothenburg - Department of Economics; Institute for the Study of Labor (IZA) Martin G. KocherLudwig-Maximilians-Universität Munich - Faculty of Economics; Göteborg University - School of Business, Economics and Law Daniela Rützleraffiliation not provided to SSRN Stefan TrautmannTilburg University IZA Discussion Paper No. 5404 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.
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, D90 working papers seriesDate posted: January 3, 2011Suggested CitationContact Information
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