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Time Preferences and Lunar New Year: An Experiment

Author

Listed:
  • Nguyen Tam L.

    (University of Economics Ho Chi Minh City, Ho Chi Minh City, Vietnam)

  • Weber Bryan S.

    (University of Economics Ho Chi Minh City, Ho Chi Minh City, Vietnam)

  • Huynh Luu Duc Toan

    (Department of Business Analytics and Applied Economics, Queen Mary University of London, London, UK)

Abstract

We conduct an experiment to examine how the attitude toward time preference changed when there was a time-related occasion, specifically the Lunar New Year. We anticipated that individuals would be more patient as measured by a battery of questions after the New Year. However, we find that individuals only appear more patient when those questions pose the amount of time they have to wait in year increments rather than other units of time. More experimentation is necessary to identify the peculiarities of framing questions around this “New Years Effect.”

Suggested Citation

  • Nguyen Tam L. & Weber Bryan S. & Huynh Luu Duc Toan, 2024. "Time Preferences and Lunar New Year: An Experiment," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 24(4), pages 1307-1319.
    • Handle: RePEc:bpj:bejeap:v:24:y:2024:i:4:p:1307-1319:n:1007
    DOI: 10.1515/bejeap-2023-0360
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    More about this item

    Keywords

    difference-in-difference; Lunar New Year; time preferences;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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