Files in this item
A case of framing effects : the elicitation of time preferences
Item metadata
dc.contributor.author | Manzini, Paola | |
dc.contributor.author | Mariotti, Marco | |
dc.date.accessioned | 2015-11-12T10:10:03Z | |
dc.date.available | 2015-11-12T10:10:03Z | |
dc.date.issued | 2014-07-21 | |
dc.identifier.citation | Manzini , P & Mariotti , M 2014 ' A case of framing effects : the elicitation of time preferences ' School of Economics & Finance Discussion Paper , no. 1405 , University of St Andrews , St Andrews , pp. 1-48 . | en |
dc.identifier.issn | 0962-4031 | |
dc.identifier.other | PURE: 134446946 | |
dc.identifier.other | PURE UUID: a52c0623-016c-43dd-9833-d26680f290de | |
dc.identifier.uri | https://hdl.handle.net/10023/7773 | |
dc.description.abstract | We compare three methods for the elicitation of time preferences in an experimental setting: the Becker-DeGroot-Marschak procedure (BDM); the second price auction; and the multiple price list format. The first two methods have been used rarely to elicit time preferences. All methods used are perfectly equivalent from a decision theoretic point of view, and they should induce the same `truthful' revelation i dominant strategies. In spite of this, we find that framing does matter: the money discount rates elicited with the multiple price list tend to be higher than those elicited with the other two methods. In addition, our results shed some light on attitudes towards time, and they permit a broad classification of subjects depending on how the size of the elicited values varies with the time horizon. | |
dc.format.extent | 49 | |
dc.language.iso | eng | |
dc.publisher | University of St Andrews | |
dc.relation.ispartof | en | |
dc.relation.ispartofseries | School of Economics & Finance Discussion Paper | en |
dc.rights | (c) The author 2014 | en |
dc.subject | Time preferences | en |
dc.subject | Elicitation methods | en |
dc.subject | BDM | en |
dc.subject | Auctions | en |
dc.subject | MPL | en |
dc.subject | HB Economic Theory | en |
dc.subject.lcc | HB | en |
dc.title | A case of framing effects : the elicitation of time preferences | en |
dc.type | Working or discussion paper | en |
dc.description.version | Postprint | en |
dc.contributor.institution | University of St Andrews. School of Economics and Finance | en |
dc.identifier.url | http://ideas.repec.org/p/san/wpecon/1405.html | en |
This item appears in the following Collection(s)
Items in the St Andrews Research Repository are protected by copyright, with all rights reserved, unless otherwise indicated.