Time preferences and their life outcome correlates: Evidence from a representative survey.
Daniel Horn,Hubert Janos Kiss +1 more
TLDR
With the exception of unemployment, a consistent and often significant positive relationship between patience and the corresponding domain is documented, with the strongest associations in educational attainment, wealth and financial decisions.Abstract:
We collect data on time preferences of a representative sample of the Hungarian adult population in a non-incentivized way and investigate how patience and present bias associate with important life outcomes in five domains: i) educational attainment, ii) unemployment, iii) income and wealth, iv) financial decisions and difficulties, and v) health. Based on the literature, we formulate the broad hypotheses that patience relates positively, while present bias associates negatively with positive outcomes in the domains under study. With the exception of unemployment, we document a consistent and often significant positive relationship between patience and the corresponding domain, with the strongest associations in educational attainment, wealth and financial decisions. We find that present bias associates significantly with saving decisions and financial difficulties.read more
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幼兒教育（Early Childhood Education）
TL;DR: In this paper, the authors provide a foundation for understanding and guiding children's behaviour, and students learn the principles of guidance and strategies needed to guide behaviour in positive ways, focusing on understanding behaviour and implementing techniques that foster positive relationships and self-esteem, and create opportunities for learning.
Posted Content
An experiment on risk taking and evaluation periods
Uri Gneezy,Jan Potters +1 more
TL;DR: This paper found that the more frequently returns are evaluated, the more risk averse investors will be, which is in line with the behavioral hypothesis of "myopic loss aversion", which assumes that people are myopic in evaluating outcomes over time, and are more sensitive to losses than to gains.
Posted Content
On the Relationship Between Cognitive Ability and Risk Preference
TL;DR: Taking as a whole, this research indicates that cognitive ability is associated with risk-taking behavior in various contexts and life domains, including incentivized choices between lotteries in controlled environments, behavior in nonexperimental settings, and self-reported tendency to take risks.
Posted Content
Anatomy of the Credit Score
TL;DR: In this paper, the authors compared estimated credit scores with measures of impulsivity, time preference, risk attitude and trustworthiness, in an effort to determine the preferences that underlie credit behavior.
Measuring Decreasing and Increasing Impatience
TL;DR: A measure of the degree of decreasing impatience, the DI-index, is introduced, which measures the change of impatience independently from the level of impatiences and independently from utility.
References
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Journal ArticleDOI
Golden Eggs and Hyperbolic Discounting
TL;DR: The authors analyzes the decisions of a hyperbolic consumer who has access to an imperfect commitment technology: an illiquid asset whose sale must be initiated one period before the sale proceeds are received.
Journal ArticleDOI
Time Discounting and Time Preference: A Critical Review
TL;DR: In this paper, the authors discuss the discounted utility (DU) model, its historical development, underlying assumptions, and "anomalies" -the empirical regularities that are inconsistent with its theoretical predictions.
Journal ArticleDOI
Gender Differences in Preferences
Rachel Croson,Uri Gneezy +1 more
TL;DR: This paper reviewed the literature on gender differences in economic experiments and identified robust differences in risk preferences, social (other-regarding) preferences, and competitive preferences, speculating on the source of these differences and their implications.
Journal ArticleDOI
A gradient of childhood self-control predicts health, wealth, and public safety
Terrie E. Moffitt,Louise Arseneault,Daniel W. Belsky,Nigel Dickson,Robert J. Hancox,HonaLee Harrington,Renate Houts,Richie Poulton,Brent W. Roberts,Stephen A. Ross,Malcolm R. Sears,W. Murray Thomson,Avshalom Caspi +12 more
TL;DR: Following a cohort of 1,000 children from birth to the age of 32 y, it is shown that childhood self-control predicts physical health, substance dependence, personal finances, and criminal offending outcomes, following a gradient of self- control.
Journal ArticleDOI
Individual Risk Attitudes: Measurement, Determinants and Behavioral Consequences
TL;DR: The authors found that gender, age, height, and parental background have an economically significant impact on willingness to take risks, and the question about risk taking in general generates the best all-round predictor of risky behavior.