Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior

50 Pages Posted: 17 Nov 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 (LMU) - Faculty of Economics; Institute for Advanced Studies (IHS) - Department of Economics & Finance; University of Gothenburg - School of Business, Economics and Law; Queensland University of Technology - School of Economics and Finance

Daniela Glätzle-Rützle

University of Innsbruck - Department of Public Finance

Stefan Trautmann

Tilburg University

Multiple version iconThere are 2 versions of this paper

Date Written: November 17, 2011

Abstract

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment and relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of health-related field behavior, saving decisions and conduct at school. In particular, more impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index, are less likely to save money and show worse conduct at school. 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, conduct at school, external validity

JEL Classification: C910, C930, D810, D900

Suggested Citation

Sutter, Matthias and Kocher, Martin G. and Glätzle-Rützle, Daniela and Trautmann, Stefan, Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior (November 17, 2011). CESifo Working Paper No. 3635, Available at SSRN: https://ssrn.com/abstract=1961032

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 (LMU) - 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

University of Gothenburg - 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 Glätzle-Rützle

University of Innsbruck - Department of Public Finance ( email )

Innrain 52
Innsbruck, 6020
Austria

Stefan Trautmann

Tilburg University ( email )

P.O. Box 90153
Tilburg, DC Noord-Brabant 5000 LE
Netherlands

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