Abstract

  


 



Impatience, Anticipatory Feelings and Uncertainty: A Dynamic Experiment on Time Preferences


Marco Casari


University of Bologna - Department of Economics

Davide Dragone


University of Bologna - Department of Economics
July 22, 2011

Quaderni DSE Working Paper No. 777

Abstract:     
We study intertemporal choices through an experiment that elicits a subject's plan and then tracks its implementation over time. There are two main results. When facing a costly task to be completed under a deadline, two thirds of subjects prefer anticipating it rather than postponing it. Choice reversals are common although present-biased preferences alone cannot explain them. This evidence is compatible with models based on anticipatory feelings and stochastic utility.

Number of Pages in PDF File: 37

Keywords: time inconsistency, self-control, risk, stochastic utility, real-effort experiment

JEL Classification: C91, D01, D80, D90

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Date posted: August 4, 2011  

Suggested Citation

Casari, Marco and Dragone, Davide, Impatience, Anticipatory Feelings and Uncertainty: A Dynamic Experiment on Time Preferences (July 22, 2011). Quaderni DSE Working Paper No. 777. Available at SSRN: http://ssrn.com/abstract=1904880 or http://dx.doi.org/10.2139/ssrn.1904880

Contact Information

Marco Casari (Contact Author)
University of Bologna - Department of Economics ( email )
Strada Maggiore 45
Bologna, 40125
Italy
Davide Dragone
University of Bologna - Department of Economics ( email )
Piazza Scaravilli 2
Bologna, 40126
Italy
HOME PAGE: http://www2.dse.unibo.it/dragone
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