Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior

49 Pages Posted: 3 Jan 2011

See all articles by Matthias Sutter

Matthias Sutter

Max Planck Society for the Advancement of the Sciences - Max Planck Institute for Research on Collective Goods; University of Cologne - Department of Economics

Martin G. Kocher

Ludwig Maximilian University of Munich - Faculty of Economics; Institute for Advanced Studies (IHS) - Department of Economics & Finance; Göteborg University - School of Business, Economics and Law; Queensland University of Technology - School of Economics and Finance

Daniela Rützler

University of Innsbruck

Stefan Trautmann

Tilburg University

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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.

Keywords: experiments with children and adolescents, risk, ambiguity, time preferences, health status, savings, external validity, field behavior

JEL Classification: C91, C93, D81, D90

Suggested Citation

Sutter, Matthias and Kocher, Martin G. and Rützler, Daniela and Trautmann, Stefan, Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior. IZA Discussion Paper No. 5404. Available at SSRN: https://ssrn.com/abstract=1733729

Matthias Sutter (Contact Author)

Max Planck Society for the Advancement of the Sciences - Max Planck Institute for Research on Collective Goods ( email )

Kurt-Schumacher-Str. 10
D-53113 Bonn, 53113
Germany

University of Cologne - Department of Economics

Cologne, 50923
Germany

Martin G. Kocher

Ludwig Maximilian University of Munich - Faculty of Economics ( email )

Ludwigstrasse 28
Munich, D-80539
Germany

Institute for Advanced Studies (IHS) - Department of Economics & Finance ( email )

Stumpergasse 56
A-1060 Vienna, A-1060
Austria

Göteborg University - School of Business, Economics and Law ( email )

Vasagatan 1
Goteborg, 40530
Sweden

Queensland University of Technology - School of Economics and Finance ( email )

GPO Box 2434
2 George Street
Brisbane, Queensland 4001
Australia

Daniela Rützler

University of Innsbruck ( email )

Stefan Trautmann

Tilburg University ( email )

P.O. Box 90153
Tilburg, DC 5000 LE
Netherlands

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