Journal
EXPERIMENTAL ECONOMICS
Volume 23, Issue 2, Pages 294-321Publisher
SPRINGER
DOI: 10.1007/s10683-019-09617-y
Keywords
Discount rate; Present bias; Experiment; Mobile money
Categories
Funding
- Cogito Foundation [R-116/10]
- NIH [R01AG039297]
Ask authors/readers for more resources
We conduct a laboratory experiment in Kenya in which we elicit time and risk preference parameters from 494 participants, using convex time budgets and tightly controlling for transaction costs. Using the Kenyan mobile money system M-Pesa to make real-time transfers to subjects' phones , we vary whether same-day payments are made immediately after the experimental session or at the close of the business day. We find strong evidence of present bias, with estimates of the present bias parameter ranging from 0.902 to 0.924-but only when same-day payments are made immediately after the experiment.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available