Time preferences and their life outcome correlates: Evidence from a representative survey.

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  • Author(s): Horn D;Horn D;Horn D; Kiss HJ; Kiss HJ; Kiss HJ
  • Source:
    PloS one [PLoS One] 2020 Jul 30; Vol. 15 (7), pp. e0236486. Date of Electronic Publication: 2020 Jul 30 (Print Publication: 2020).
  • Publication Type:
    Journal Article; Research Support, Non-U.S. Gov't
  • Language:
    English
  • Additional Information
    • Source:
      Publisher: Public Library of Science Country of Publication: United States NLM ID: 101285081 Publication Model: eCollection Cited Medium: Internet ISSN: 1932-6203 (Electronic) Linking ISSN: 19326203 NLM ISO Abbreviation: PLoS One Subsets: MEDLINE
    • Publication Information:
      Original Publication: San Francisco, CA : Public Library of Science
    • Subject Terms:
      Surveys and Questionnaires*; Bias ; Commerce ; Decision Making ; Educational Status ; Health ; Humans ; Income ; Probability ; Regression Analysis ; Statistics as Topic ; Time Factors ; Unemployment
    • Abstract:
      We collect data on time preferences of a representative sample of the Hungarian adult population in a non-incentivized way and investigate how patience and present bias associate with important life outcomes in five domains: i) educational attainment, ii) unemployment, iii) income and wealth, iv) financial decisions and difficulties, and v) health. Based on the literature, we formulate the broad hypotheses that patience relates positively, while present bias associates negatively with positive outcomes in the domains under study. With the exception of unemployment, we document a consistent and often significant positive relationship between patience and the corresponding domain, with the strongest associations in educational attainment, wealth and financial decisions. We find that present bias associates significantly with saving decisions and financial difficulties.
      Competing Interests: The authors have declared that no competing interests exist.
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    • Publication Date:
      Date Created: 20200731 Date Completed: 20200922 Latest Revision: 20240329
    • Publication Date:
      20240329
    • Accession Number:
      PMC7392281
    • Accession Number:
      10.1371/journal.pone.0236486
    • Accession Number:
      32730296