Impatience and Uncertainty: Experimental Decisions Predict Adolecents' Field Behavior

Sutter, Matthias; Kocher, Martin G.; Rützler, Daniela and Trautmann, Stefan T. (22. December 2010): Impatience and Uncertainty: Experimental Decisions Predict Adolecents' Field Behavior. Discussion Papers in Economics 2010-36

Abstract

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to eighteen years, in an incentivized experiment. We relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of health related field behavior and saving decisions. In particular, more impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index (BMI) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of field behavior.

• Item Type: Paper
• Form of publication: Preprint
• Keywords: experiments with children and adolescents; risk; ambiguity; time preferences; health status; savings; external validity; field behavior
• Faculties: Economics; Economics > Munich Discussion Papers in Economics; Economics > Chairs > Chair of Empirical Economics
• Subjects: 300 Social sciences > 300 Social sciences, sociology and anthropology; 300 Social sciences > 330 Economics
• JEL Classification: C91, C93, D81, D90
• Language: English