Narrow Framing and Impatience∗
نویسندگان
چکیده
We hypothesize that the tendency to frame narrowly is related to an individual’s time preference. To test this, we confront a large sample of the Dutch population with a series of incentivized investment decisions and elicit time preferences. We find that the tendency to frame narrowly is not generally related to discount rates. At the same time, we find that it is easier to induce impatient individuals to frame more broadly. This suggests that impatient individuals are more susceptible to ’nudges’than patient individuals, which is important as impatience is typically associated with problematic behaviors such as low savings, little equity holdings, low investments in human capital, and an unhealthy lifestyle.
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