2020/09/29 by Taisuke Imai, Tom A Rutter, Tom Rutter +2 · 10 citations
Decision Sciences · Social Sciences · Economics, Econometrics and Finance · #Decision-Making and Behavioral Economics #Experimental Behavioral Economics Studies #Economic and Environmental Valuation
paper · pdf · doi:10.1093/ej/ueaa115
Abstract We examine 220 estimates of the present-bias parameter from 28 articles using the Convex Time Budget protocol. The literature shows that people are on average present-biased, but estimates exhibit substantial heterogeneity across studies. There is evidence of modest selective reporting in the direction of over-reporting present bias. The primary source of heterogeneity is the type of reward, either monetary or non-monetary, but this effect is weakened after correcting for selective reporting. In studies using monetary rewards, the delay until the issue of the reward associated with the ‘current’ time period influences estimates of the present-bias parameter.