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Type | Working Paper |
Scope | Discipline-based scholarship |
Title | An investigation of individual preferences: consistency across incentives and stability over time |
Organization Unit | |
Authors |
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Language |
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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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PDF File | Download from ZORA |
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Keywords | Individual preference, hypothetical bias, time inconsistency, discrete choice experiments, charitable donations, Präferenzfunktion, Bekundete Präferenz, Diskrete Entscheidung, Experiment, Spende |