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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Universal time preference |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | PLoS ONE |
| Publisher | Public Library of Science (PLoS) |
| Geographical Reach | international |
| ISSN | 1932-6203 |
| Volume | 16 |
| Number | 2 |
| Page Range | e0245692 |
| Date | 2021 |
| Abstract Text | Time preferences are central to human decision making; therefore, a thorough understanding of their international differences is highly relevant. Previous measurements, however, vary widely in their methodology, from questions answered on the Likert scale to lottery-type questions. We show that these different measurements correlate to a large degree and that they have a common factor that can predict a broad spectrum of variables: the countries’ credit ratings, gasoline prices (as a proxy for environmental protection), equity risk premiums, and average years of school attendance. The resulting data on this time preference factor for N = 117 countries and regions will be highly useful for further research. Our aggregation method is applicable to merge cross-cultural studies that measure the same latent construct with different methodologies. |
| Free access at | DOI |
| Official URL | https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0245692 |
| Digital Object Identifier | 10.1371/journal.pone.0245692 |
| Other Identification Number | merlin-id:20805 |
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