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
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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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
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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