Stephen V. Burks|Jeffrey P. Carpenter|Lorenz Götte|Aldo Rustichini
Which measures of time preference best predict outcomes: Evidence from a large-scale field experiment
University of Minnesota Morris|Middlebury College|University of Lausanne|University of Minnesota|University of Cambridge
economists psychologists devised numerous instruments measure time preferences generated rich literature examining extent time preferences predict important outcomes however still know measures work best help large sample nonstudent participants administrative data outcomes gather four different time preference measures test extent predict forced compete headtohead results suggest familiar formulation present bias exponential discounting predicts best especially parameters used