Time Preference and Preference Reversal Among Experienced Subjects
The Effects of Real Payments
Bibliographic Data
| ID | 9710844 |
|---|---|
| Authors | Peter Bohm (0000-0002-7186-1997, Stockholm University, corresponding author) |
| Year | 1994 |
| Volume | 104 |
| Issue | 427 |
| Pages | 1370 |
| Publication date | 1994-11-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.2307/2235453 |
| OpenAlex | W2043765516 |
| Language | EN |
| Citations received | 3 |
| References cited | 2 |
Preference reversal has been frequent in tests with hypothetical, or small real, payoffs concerning lotteries as well as claims redeemable at different future dates. PR is tested here for the latter case with nontrivial payment levels and subjects likely to deal with decisions of this type. It is found (1) that replacing hypothetical by real-payment tests reduces PR rates from 62% to 15% for subjects 'predicted' to reverse preferences, and (2) that the real overall PR rate (before correcting for response errors) is 19%, much lower than in earlier studies
Actuarial science · Econometrics · Economics · Microeconomics · Payment · Preference · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Experimental Behavioral Economics Studies · Finance
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,15 |
| Citation span | 2006 - 2007 (2) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |