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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title An investigation of individual preferences: consistency across incentives and stability over time
Organization Unit
Authors
  • Emmanouil Mentzakis
  • Jingjing Zhang
Language
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 70
ISSN 1664-7041
Number of Pages 27
Date 2012
Abstract Text This study compares individual preferences across incentives (i.e., hypothetical vs. real incentives) and over time (i.e. elicitation at two different points in time) in a choice experiment involving charitable donating decisions. We provide evidence of hypothetical bias but little evidence of instability of individual giving. There is significant heterogeneity in individual preferences, with real incentives either dampening or pronouncing the observed donating behaviour. Neither hypothetical bias nor instability is observed when we examine the propensity of individuals to make internally consistent decisions over identical choices.
Official URL http://www.econ.uzh.ch/static/wp/econwp070.pdf
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Keywords Individual preference, hypothetical bias, time inconsistency, discrete choice experiments, charitable donations, Präferenzfunktion, Bekundete Präferenz, Diskrete Entscheidung, Experiment, Spende