On Measuring Time Preferences

30 Pages Posted: 4 Sep 2013

See all articles by James Andreoni

James Andreoni

University of California, San Diego (UCSD)

Michael Kuhn

University of Oregon - Department of Economics

Charles Sprenger

Stanford University - Department of Economics

Date Written: August 2013

Abstract

Eliciting time preferences has become an important component of both laboratory and field experiments, yet there is no consensus as how to best measure discounting. We examine the predictive validity of two recent, simple, easily administered, and individually successful elicitation tools: Convex Time Budgets (CTB) and Double Multiple Price Lists (DMPL). Using similar methods, the CTB and DMPL are compared using within- and out-of-sample predictions. While each perform equally well within sample, the CTB significantly outperforms the DMPL on out-of-sample measures.

Suggested Citation

Andreoni, James and Kuhn, Michael and Sprenger, Charles, On Measuring Time Preferences (August 2013). NBER Working Paper No. w19392, Available at SSRN: https://ssrn.com/abstract=2320271

James Andreoni (Contact Author)

University of California, San Diego (UCSD) ( email )

9500 Gilman Drive
La Jolla, CA 92093-0508
United States

HOME PAGE: http://econ.ucsd.edu/~jandreon/

Michael Kuhn

University of Oregon - Department of Economics ( email )

Eugene, OR 97403
United States

HOME PAGE: http://pages.uoregon.edu/mkuhn

Charles Sprenger

Stanford University - Department of Economics ( email )

Landau Economics Building
579 Serra Mall
Stanford, CA 94305-6072
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
28
Abstract Views
354
PlumX Metrics