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Do Discount Rates Change over Time?: Experimental Evidence from Ethiopia
Heather Klemick, Mahmud Yesuf
RFF Discussion Paper EfD 08-06 | March 2008
RESEARCH TOPICS:
Abstract
This study tests the hyperbolic discounting hypothesis using real-payoff experiments in Ethiopia. We compared time preferences over cash and consumption goods and over different time horizons. We found that participants made consistent choices over time and that responses did not vary across payment type. However, participants offered an immediate payment option first selected the impatient reward more often than those offered a delayed payment initially. Participants with greater livestock wealth and smaller landholdings were more likely to select the patient reward.
RELATED SUBTOPICS
Africa
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