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Toward an Understanding of the Development of Time Preferences: Evidence from Field Experiments

James Andreoni, Michael A. Kuhn, John A. List, Anya Samek, Kevin Sokal, Charles Sprenger

NBER Working Paper No. 25590
Issued in February 2019
NBER Program(s):The Public Economics Program

Time preferences have been correlated with a range of life outcomes, yet little is known about their early development. We conduct a field experiment to elicit time preferences of over 1,200 children ages 3-12, who make several intertemporal decisions. To shed light on how such primitives form, we explore various channels that might affect time preferences, from background characteristics to the causal impact of an early schooling program that we developed and operated. Our results suggest that time preferences evolve substantially during this period, with younger children displaying more impatience than older children. We also find a strong association with race: black children, relative to white or Hispanic children, are more impatient. Finally, assignment to different schooling opportunities is not significantly associated with child time preferences.

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Document Object Identifier (DOI): 10.3386/w25590

Published: James Andreoni & Michael A. Kuhn & John A. List & Anya Samek & Kevin Sokal & Charles Sprenger, 2019. "Toward an understanding of the development of time preferences: Evidence from field experiments," Journal of Public Economics, vol 177.

 
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