Doing it now or later with payoff externalities: Experimental evidence on social time preferences

Giovanni Ponti (), Ismael Rodriguez-Lara and Daniela Di Cagno

No 1/2014, Working Papers CESARE from Dipartimento di Economia e Finanza, LUISS Guido Carli

Abstract: We report experimental evidence on the effects of social preferences on intertemporal decisions. To this aim, we set up an intertemporal Dictator Game and investigate whether (and how) subjects change their choices, compared with those they had taken in absence of any payoff externality in a previous stage of the experiment. We run two treatments -INFO and BELIEF, respectively- depending on whether Dictators know -or are asked to elicit- their assigned Recipients' risk and time preferences. We find that high (own) risk aversion is associated with low (own) discounting. We also found that (heterogeneous) social time preferences are signifcant determinants of choices, in that Dictators display a marked propensity to account for the Recipients' intertemporal concerns.

Keywords: intertemporal decisions; time preferences; social preferences (search for similar items in EconPapers)
JEL-codes: C91 D70 D81 D91 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-evo, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Working Paper: Doing it now or later with payoff externalities: Experimental evidence on social time preferences (2014)
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