Replication data for: Risk Preferences Are Not Time Preferences

Name	File Type	Size	Last Modified
Stata			10/11/2019 06:03:PM
LICENSE.txt	text/plain	14.6 KB	10/11/2019 02:03:PM

Project Citation:

Andreoni, James, and Sprenger, Charles. Replication data for: Risk Preferences Are Not Time Preferences. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112570V1

Project Description

Summary: Risk and time are intertwined. The present is known while the future is inherently risky. This is problematic when studying time preferences since uncontrolled risk can generate apparently present-biased behavior. We systematically manipulate risk in an intertemporal choice experiment. Discounted expected utility performs well with risk, but when certainty is added common ratio predictions fail sharply. The data cannot be explained by prospect theory, hyperbolic discounting, or preferences for resolution of uncertainty, but seem consistent with a direct preference for certainty. The data suggest strongly a difference between risk and time preferences. (JEL C91 D81 D91)

Scope of Project

JEL Classification:
      C91 Design of Experiments: Laboratory, Individual
      D81 Criteria for Decision-Making under Risk and Uncertainty
      D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

Related Publications

Download this project

Published Versions

V1 [2019-10-11]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.