Working Paper: NBER ID: w19392
Authors: James Andreoni; Michael A. Kuhn; Charles Sprenger
Abstract: Eliciting time preferences has become an important component of both laboratory and field experiments, yet there is no consensus as how to best measure discounting. We examine the predictive validity of two recent, simple, easily administered, and individually successful elicitation tools: Convex Time Budgets (CTB) and Double Multiple Price Lists (DMPL). Using similar methods, the CTB and DMPL are compared using within- and out-of-sample predictions. While each perform equally well within sample, the CTB significantly outperforms the DMPL on out-of-sample measures.
Keywords: No keywords provided
JEL Codes: D03; D14; G02
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| CTB (Y20) | predictive validity (C52) |
| DMPL (C69) | predictive validity (C52) |
| utility function curvature (D11) | estimates from CTB (Y10) |
| utility function curvature (D11) | estimates from DMPL (C13) |
| CTB (Y20) | DMPL predictive validity (C52) |