We document that results of empirical/experimental studies of discounting are sensitive to the list of questions. We compare results of our survey conducted in 2018 to the results of a similar smaller survey (Scholten and Read (2006)). Based on the overlapping questions, our results are remarkably similar to these earlier results. At the same time, the overall conclusions from our survey are markedly different. The earlier declared conclusions do not survive a more complete set of alternative choices offered to the respondents. A much greater share of respondents deviate from choice consistency between the alternatives. Deviations seem to increase in the considered time horizons and time intervals. This may be driven either by the direct effect of time on discounting or by inclusion of choices with higher nominal amounts. Sensitivity of discounting to amounts being discounted warrants further investigation.

Original languageEnglish
Title of host publicationANNUAL GSOM EMERGING MARKETS CONFERENCE 2019
Subtitle of host publicationConference book
Place of PublicationСПб/
PublisherИздательство Санкт-Петербургского университета
Pages297-303
StatePublished - 2019
Event6th international GSOM Emerging Markets Conference-2019 - St. Petersburg State University, Graduate School of Management, Санкт-Петербург, Russian Federation
Duration: 3 Oct 20195 Oct 2019
Conference number: 5

Conference

Conference6th international GSOM Emerging Markets Conference-2019
Abbreviated titleGSOM EMC 2019
Country/TerritoryRussian Federation
CityСанкт-Петербург
Period3/10/195/10/19

    Research areas

  • BEHAVIORAL FINANCE, DISCOUNTING, INTERTEMPORAL CHOICE, SUBADDITIVITY, SUPERADDITIVITY, TRANSITIVITY, survey

ID: 71887502