Does age affect the relation between risk and time preferences? Evidence from a representative sample
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- handle: 10670/1.6jcxa4
- hal: hal-04217414
- doi: 10.1002/soej.12662
- WOS: 001070958100001
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info:eu-repo/semantics/altIdentifier/doi/10.1002/soej.12662
http://creativecommons.org/licenses/by-nc-nd/ , info:eu-repo/semantics/OpenAccess
Mots-clés
age elicited preferences risk preferences stated preferences time preferences C - Mathematical and Quantitative Methods/C.C8 - Data Collection and Data Estimation Methodology • Computer Programs/C.C8.C83 - Survey Methods • Sampling Methods C - Mathematical and Quantitative Methods/C.C9 - Design of Experiments/C.C9.C91 - Laboratory, Individual Behavior D - Microeconomics/D.D1 - Household Behavior and Family Economics D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D81 - Criteria for Decision-Making under Risk and UncertaintySujets proches
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Zexuan Wang et al., « Does age affect the relation between risk and time preferences? Evidence from a representative sample », HAL-SHS : économie et finance, ID : 10.1002/soej.12662
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Résumé
We examine the links between age, risk tolerance, and impatience in a large French representative sample. We combine elicited preferences data based on an incentivized web experiment and stated preferences data based on self-reported surveys. Our findings highlight distinct patterns: when considering stated preferences, both risk tolerance and impatience exhibit a decline with age. Higher risk tolerance is associated with higher impatience, and this relationship strengthens with age in the financial domain. In contrast, our analysis of elicited measures uncovers a different dynamic. Specifically, risk tolerance tends to increase with age, while age exhibits no significant influence on impatience. Furthermore, individuals endowed with higher risk tolerance tend to demonstrate lower levels of impatience, irrespective of their age.