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Individual decision-making experiment with risk and intertemporal choice: a replication study

Author

Listed:
  • Morone, Andrea
  • Casamassima, Alessia
  • Cascavilla, Alessandro

Abstract

We replicate the experiment proposed by Lisa R. Anderson and Sarah L. Stafford (2009) by conducting it through the Instagram platform. The structure of questionnaire is the same as the one of the original experiment inasmuch subjects might choose between two options that differ in resolution timing. According to the experimental results, we show that the percentage of subjects choosing later option increases as the value of the later option increases, and the percentage of subjects choosing later option is smaller the longer the temporal delay between two options. We found that risk does not make subjects less patient and there are interactions between risk and the length temporal delay.

Suggested Citation

  • Morone, Andrea & Casamassima, Alessia & Cascavilla, Alessandro, 2020. "Individual decision-making experiment with risk and intertemporal choice: a replication study," MPRA Paper 110777, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:110777
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    References listed on IDEAS

    as
    1. Lisa Anderson & Sarah Stafford, 2009. "Individual decision-making experiments with risk and intertemporal choice," Journal of Risk and Uncertainty, Springer, vol. 38(1), pages 51-72, February.
    2. Daniel Ellsberg, 1961. "Risk, Ambiguity, and the Savage Axioms," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 75(4), pages 643-669.
    3. Paul A. Samuelson, 1937. "A Note on Measurement of Utility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 4(2), pages 155-161.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Intertemporal decision-making; Risk; Intertemporal choice; Experiment.;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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