Quasi-Hyperbolic Present Bias: A Meta-Analysis

نویسندگان

چکیده

Quasi-hyperbolic discounting is one of the most well-known and widely-used models to capture self-control problems in economics literature. The underlying assumption this model that agents have a present bias toward current consumption such all future rewards are downweighed relative (in addition standard exponential for length delay). We report meta-analytic dataset estimates parameter β based on searches major research databases (62 papers with 81 total). find literature shows people average biased both monetary (β = 0.82, 95% confidence interval [0.74, 0.90]) nonmonetary 0.66, [0.51, 0.85]) but substantial heterogeneity exists across studies. source comes from subject pool, elicitation methodology, geographical location, payment method, mode data collection (e.g. laboratory or field), reward type. There evidence selective reporting publication direction overestimating strength present-bias (making smaller), still after correcting these issues (for money 0.87 [0.82, 0.92] reporting).

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ژورنال

عنوان ژورنال: Social Science Research Network

سال: 2021

ISSN: ['1556-5068']

DOI: https://doi.org/10.2139/ssrn.3900887