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dc.contributor.authorFreeman, David
dc.contributor.authorManzini, Paola
dc.contributor.authorMariotti, Marco
dc.contributor.authorMittone, Luigi
dc.identifier.citationFreeman , D , Manzini , P , Mariotti , M & Mittone , L 2016 , ' Procedures for eliciting time preferences ' Journal of Economic Behavior and Organization , vol. 126 , no. A , pp. 235–242 .
dc.identifier.otherPURE: 241571760
dc.identifier.otherPURE UUID: 1e4969f7-c50a-4a5e-a226-9d46fb35ac89
dc.identifier.otherScopus: 84963642624
dc.description.abstractWe study three procedures to elicit attitudes towards delayed payments: the Becker-DeGroot-Marschak procedure; the second price auction; and the multiple price list. The payment mechanisms associated with these methods are widely considered as incentive compatible, thus if preferences satisfy Procedure Invariance, which is also widely (and often implicitly) assumed, they should yield identical time preference distributions. We find instead that the monetary discount rates elicited using the Becker-DeGroot-Marschak procedure are significantly lower than those elicited with a multiple price list. We show that the behavior we observe is consistent with an existing psychological explanation of preference reversals.en
dc.relation.ispartofJournal of Economic Behavior and Organizationen
dc.rights© 2016, Elsevier B.V. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at
dc.subjectTime preferencesen
dc.subjectElicitation methodsen
dc.subjectBecker-DeGroot-Marschak procedureen
dc.subjectMultiple price listen
dc.subjectHB Economic Theoryen
dc.titleProcedures for eliciting time preferencesen
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen
dc.description.statusPeer revieweden

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