The heterogeneity of time-risk tradeoffs

Do Adverse Events Influence Time Preferences? Evidence From Smallholder African Farmers

“…Contrary to previous findings (e.g., Chesson and Viscusi 2000; Ferecatu and Önçüler 2016), we also identify a significant gender effect, with female farmers displaying significantly higher patience levels compared to their male counterparts (estimate: −0.019; s.e. = 0.007, p = 0.01) This finding is not universal.…”

At the nexus of risk and time preferences: An experimental investigation

“…The protocol used in decision tasks 1 and 2 is similar to that used by Harrison et al (2002) and the 1 week "front end delay" was used for the same reasons as those described by Anderson and Stafford (2009). This approach is widely used to elicit time preferences under the assumption of imperfect access to capital markets outside the experiment (e.g., see discussions in Coller and Williams (1999), Chesson and Viscusi (2000), Read (2001) and Cubbitt and Read (2007). One of the two decision tasks (1 or 2) was randomly selected as binding, and then for the binding task, one of the 12 decisions was randomly selected and paid out-if option A was chosen, $10 was given to subjects and if option B was chosen, the amount was mailed to the subject at the appropriate time.…”

Individual decision-making experiments with risk and intertemporal choice

“…In this regression, the only demographic variable that has a significant coefficient is Smoker. The positive sign on this coefficient is consistent with many theories about the causes of smoking but is the opposite of what Chesson and Viscusi (2000) find.…”

“…Unlike the other intertemporal experiments discussed above, Chesson and Viscusi (2000) introduce risk in the payment date, rather than in the amount of the payment. Subjects choose between receiving a fixed amount of money at a certain future date t or playing a lottery to determine whether the money will be paid at a date earlier than t or later than t. In addition subjects report a fixed payment amount that makes them indifferent between the certain payment date and the risky payment date.…”