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

Jena Economic Research Paper No. 2010-087

49 Pages Posted: 23 Dec 2010

See all articles by Marco Casari

Marco Casari

University of Bologna - Department of Economics

Davide Dragone

University of Bologna - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: December 3, 2010

Abstract

We study time preferences in a real-effort experiment with a one-month horizon. We report that two thirds of choices suggest negative time preferences. Moreover, choice reversal over time is common even if temptation plays no role. We propose and measure three distinct concepts of choice reversal over time to study time consistency. This evidence calls for an important role for anticipatory feelings and uncertainty in intertemporal behavior.

Keywords: Negative Time Preferences, Choice Reversal, Risk, Time Inconsistency, Real-Effort Experiment

JEL Classification: C91, D01, D80, D90

Suggested Citation

Casari, Marco and Dragone, Davide, Impatience, Anticipatory Feelings and Uncertainty: A Dynamic Experiment on Time Preferences (December 3, 2010). Jena Economic Research Paper No. 2010-087. Available at SSRN: https://ssrn.com/abstract=1729635 or http://dx.doi.org/10.2139/ssrn.1729635

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
0039.051.2098880 (Phone)

HOME PAGE: http://https://www.unibo.it/sitoweb/davide.dragone/en

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