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Coller, Maribeth; Williams, Melonie B.

doi:10.1023/a:1009986005690

Cited by 395 publications

(70 citation statements)

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“…In one case, the discount rates from the hypothetical treatments were lower, but the hypothetical and non-hypothetical experiments were designed differently (Kirby and Maraković 1995). In a second case, the discount rates were lower for real treatments only when censoring was not taken into account (Coller and Williams 1999). Conceivably, when hypothetical health states are described to participants, some of those participants have experienced a wider array of health states and thus may be able to better imagine the state being described.…”

Section: Possible Improvements To Time Preference Elicitation Methodsmentioning

confidence: 99%

“…The delay in the sooner amount of money is called a front-end delay (FED) and has some advantages: first, it avoids the passion for the present that decision makers exhibit when offered monetary amounts today or in the future; and second, it allows the researcher to equalize the credibility of future payments. A third advantage is that it holds the transaction costs of future options constant in case these are not negligible (see for example the discussion in Coller and Williams 1999). If one decides not to use a FED, then extra care is needed in order to equalize transaction costs across all time periods, including physical costs.…”

Section: Possible Improvements To Time Preference Elicitation Methodsmentioning

confidence: 99%

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Time preferences and health behaviour: a review

2013

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In this paper, we review published studies to assess the influence of time preferences on human health behaviour. Our review indicates that elicited discount rates for health have been found to be higher than those for money in both the social and private context. We discuss the importance of discount rates for public policy since high time discount rates can contribute to governmental emphasis on acute health care, rather than preventive health care. We then examine how time preferences interrelate with specific health concerns such as smoking or obesity. We find that even when time preferences are elicited in the monetary domain, they can be successful in predicting smoking cessation and likewise for obesity. We also discuss how time preferences relate with teen risk taking behavior. JEL codes: D91, I0

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Section: Possible Improvements To Time Preference Elicitation Methodsmentioning

confidence: 99%

Section: Possible Improvements To Time Preference Elicitation Methodsmentioning

confidence: 99%

Time preferences and health behaviour: a review

2013

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“…Although the RRRs measured in MEL tasks do tend to decrease when a front-end delay is added, most studies find this decrease is somewhat weaker than predicted by popular non-exponential discount functions (maintaining the consume-on-receipt assumption). For example, for the quasihyperbolic model, the β identified from variation in the front-end delay is usually only slightly less than one, although the gap is often statistically significant (e.g., Williams 1999 andAugenblick, Niederle, and. McAlvanah (2010) finds an average annualized discount factor of 0.87 between the present and 6 years in the future, but an average discount factor of 0.94 between 12 years and 18 years in the future.…”

Section: Weak Effects Of a Front-end Delay For Mel Tasksmentioning

confidence: 99%

Measuring Time Preferences

Cohen¹,

Ericson²,

Laibson³

et al. 2016

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“…In this section, we examine whether this relationship is robust to the inclusion of various covariates. 17 It is important to do so because these covariates may be related to investment levels and the treatment e¤ect on the one hand, and time preferences on the other hand. For example, less educated individuals are more impatient.…”

Section: Regression Analysismentioning

confidence: 99%

Framing effects and impatience: Evidence from a large scale experiment

Heijden

Klein

Müller

et al. 2012

Journal of Economic Behavior & Organization

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu We confront a representative sample of one 1,102 Dutch individuals with a series of incentivized investment decisions and also elicit their time preferences. There are two treatments that differ in the frequency at which individuals decide about the invested amount. The low frequency treatment stimulates decision makers to frame a sequence of risky decisions broadly rather than narrowly. We find that the framing effect is significantly larger for impatient than for patient individuals. This result is robust to controlling for various economic and demographic variables and for cognitive ability. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E S JEL Classification:C93, D03, D81

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Untitled

Cited by 395 publications

References 0 publications

Time preferences and health behaviour: a review

Time preferences and health behaviour: a review

Measuring Time Preferences

Framing effects and impatience: Evidence from a large scale experiment

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