Abstract

In two studies, time preferences for financial gains and losses at delays of up to 50 years were elicited using three different methods: matching, fixed-sequence choice titration, and a dynamic "staircase" choice method. Matching was found to create fewer demand characteristics and to produce better fits with the hyperbolic model of discounting. The choice-based measures better predicted real-world outcomes such as smoking and payment of credit card debt. No consistent advantages were found for the dynamic staircase method over fixed-sequence titration. [PUBLICATION ABSTRACT]

Details

Title
How to measure time preferences: An experimental comparison of three methods
Author
Hardisty, David J; Thompson, Katherine F; Krantz, David H; Supplement, Elke U Weber; data, Study 1; processed, wide; long, raw; wide, raw; wide, matching raw; explanation, wide; 2, Study; key, titration Variable
Pages
n/a
Publication year
2013
Publication date
May 2013
Publisher
Cambridge University Press
ISSN
19302975
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
1364598291
Copyright
Copyright Society for Judgment & Decision Making May 2013