Measuring time preferences in large surveys

Bibliographic Data

ID6342159
AuthorsMichael M Bechtel (0000-0002-6080-5367, University of Cologne), Amalie Jensen (0000-0003-4142-0717, University of Copenhagen, corresponding author), Jordan H Mcallister (0000-0001-5832-345X, Washington University in St. Louis), Kenneth Scheve (0000-0002-6809-0060, Yale University)
Year2024
Volume12
Issue2
Pages426-434
Publication date2024-04-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenuePolitical Science Research and Methods (JOURNAL)
Journal identifiersISSN: 2049-8470 • E-ISSN: 2049-8489
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/psrm.2023.10
OpenAlexW3108270892
LanguageEN
Citations received2
References cited18

Time preferences may explain public opinion about a wide range of long-term policy problems with costs and benefits realized in the distant future. However, mass publics may discount these costs and benefits because they are later or because they are more uncertain. Standard methods to elicit individual-level time preferences tend to conflate risk and time attitudes and are susceptible to social desirability bias. A potential solution relies on a costly lab-experimental method, convex time budgets (CTB). We present and experimentally validate an affordable version of this approach for implementation in mass surveys. We find that the theoretically preferred CTB patience measure predicts attitudes toward a local, delayed investment problem but fails to predict support for more complex, future-oriented policies

Econometrics · Economics · Statistics · Bayesian Modeling and Causal Inference · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Environmental Science · Mathematics

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