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Can time-inconsistent preferences explain hypothetical biases?

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F21%3A00121437" target="_blank" >RIV/00216224:14560/21:00121437 - isvavai.cz</a>

  • Result on the web

    <a href="https://www.sciencedirect.com/science/article/pii/S2212012221000125" target="_blank" >https://www.sciencedirect.com/science/article/pii/S2212012221000125</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1016/j.ecotra.2021.100207" target="_blank" >10.1016/j.ecotra.2021.100207</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    Can time-inconsistent preferences explain hypothetical biases?

  • Original language description

    We investigate whether the value of time (VOT) depends on when the corresponding preferences are measured: in advance, just before, or after the time period for which the time preferences are being evaluated. We find that the VOT is highest when elicited just before the time period. This is an indication of the VOT being affected by time-inconsistent, and more specifically, present-biased preferences. We argue that this result may explain why time valuations based on stated preference (SP) data are typically found to be lower than those based on revealed preference (RP) data: most RP surveys evaluate the preferences of respondents close to the time period for which the preferences are being measured, whereas the time instances for which preferences are evaluated in SP surveys tend to be more abstract, or referencing past or future time periods.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50202 - Applied Economics, Econometrics

Result continuities

  • Project

    Result was created during the realization of more than one project. More information in the Projects tab.

  • Continuities

    P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Others

  • Publication year

    2021

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Economics of Transportation

  • ISSN

    2212-0122

  • e-ISSN

  • Volume of the periodical

    25

  • Issue of the periodical within the volume

    100207

  • Country of publishing house

    GB - UNITED KINGDOM

  • Number of pages

    16

  • Pages from-to

    1-16

  • UT code for WoS article

    000652632400003

  • EID of the result in the Scopus database

    2-s2.0-85104489003