Present Bias for Monetary and Dietary Rewards: Evidence from Chinese Teenagers

59 Pages Posted: 29 Jun 2020 Last revised: 19 May 2022

See all articles by Stephen L. Cheung

Stephen L. Cheung

The University of Sydney; IZA Institute of Labor Economics

Agnieszka Tymula

The University of Sydney - School of Economics

Xueting Wang

University of Sydney

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Abstract

Economists model self-control problems through time-inconsistent preferences. Empirical tests of these preferences largely rely on experimental elicitation methods using monetary rewards, with several recent studies failing to find present bias for money. In this paper, we compare estimates of present bias for money with estimates for healthy and unhealthy foods. In a within-subjects longitudinal experiment with 697 low-income Chinese high school students we find strong present bias for both money and food, and that individual measures of present bias are moderately correlated across reward types. Our experimental measures of time preferences over money predict field behaviours better than preferences elicited over foods.

Keywords: adolescents, present bias, quasi-hyperbolic discounting, self-control, food rewards

JEL Classification: C91, D12, D80, D91

Suggested Citation

Cheung, Stephen L. and Tymula, Agnieszka and Wang, Xueting, Present Bias for Monetary and Dietary Rewards: Evidence from Chinese Teenagers. IZA Discussion Paper No. 13406, Available at SSRN: https://ssrn.com/abstract=3636635

Stephen L. Cheung (Contact Author)

The University of Sydney ( email )

School of Economics
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Sydney, NSW 2006
Australia
+61 2 9351 2135 (Phone)
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HOME PAGE: http://https://sydney.edu.au/arts/economics/staff/profiles/stephen.cheung.php

IZA Institute of Labor Economics

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Germany

Agnieszka Tymula

The University of Sydney - School of Economics ( email )

Social Sciences Building
The University of Sydney
Sydney, NSW 2006 2006
Australia

Xueting Wang

University of Sydney

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