An investigation of individual preferences: Consistency across incentives and stability over time

Arbeitspapier

This study compares individual preferences across incentives (i.e., hypothetical vs. real incentives) and over time (i.e. elicitation at two different points in time) in a choice experiment involving charitable donating decisions. We provide evidence of hypothetical bias but little evidence of instability of individual giving. There is significant heterogeneity in individual preferences, with real incentives either dampening or pronouncing the observed donating behaviour. Neither hypothetical bias nor instability is observed when we examine the propensity of individuals to make internally consistent decisions over identical choices.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 70

Classification and Topics

• Classification: Wirtschaft ; Design of Experiments: Laboratory, Individual ; Consumer Economics: Theory ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Publicly Provided Goods: General
• Subject: individual preference ; hypothetical bias ; time inconsistency ; discrete choice experiments ; charitable donations ; Fundraising ; Diskrete Entscheidung ; Zeitpräferenz ; Test

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Mentzakis, Emmanouil ; Zhang, Jingjing
• Event: Veröffentlichung
• (who): University of Zurich, Department of Economics
• (where): Zurich
• (when): 2012

Further information

• DOI: doi:10.5167/uzh-61676
• Handle: http://hdl.handle.net/10419/77575
• Last update: 10.03.2025, 11:42 AM CET