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

60 Pages Posted: 30 Jun 2020

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; New York University (NYU) - Center for Neuroeconomics

Xueting Wang

The University of Sydney

Multiple version iconThere are 2 versions of this paper

Date Written: June 30, 2020

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

Suggested Citation

Cheung, Stephen L. and Tymula, Agnieszka and Wang, Xueting, Present Bias for Monetary and Dietary Rewards: Evidence from Chinese Teenagers (June 30, 2020). Life Course Centre Working Paper No. 2020-16, Available at SSRN: https://ssrn.com/abstract=3638893 or http://dx.doi.org/10.2139/ssrn.3638893

Stephen L. Cheung

The University of Sydney ( email )

School of Economics
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Sydney, NSW 2006
Australia
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HOME PAGE: http://https://sydney.edu.au/arts/economics/staff/profiles/stephen.cheung.php

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

Agnieszka Tymula

The University of Sydney - School of Economics ( email )

Rm 370 Merewether (H04)
The University of Sydney
Sydney, NSW 2006 2008
Australia

New York University (NYU) - Center for Neuroeconomics ( email )

4 Washington Place, Room 809
New York, NY 10003
United States

Xueting Wang (Contact Author)

The University of Sydney ( email )

University of Sydney
Sydney, NSW 2006
Australia

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