Replication data for: Present Bias and Collective Dynamic Choice in the Lab

Principal Investigator(s): View help for Principal Investigator(s) Matthew O. Jackson; Leeat Yariv

Name	File Type	Size	Last Modified
Programs			10/11/2019 09:27:PM
Data-AER-2011-1429-JacksonYariv.csv	text/plain	28.1 KB	10/11/2019 05:27:PM
InstructionsSocialPlanner-Final.pdf	application/pdf	179.1 KB	10/11/2019 05:27:PM
InstructionsTokens-Final.pdf	application/pdf	243.3 KB	10/11/2019 05:27:PM
ReadMe-AER-2011-1429-JacksonYariv.docx	application/vnd.openxmlformats-officedocument.wordprocessingml.document	19.7 KB	10/11/2019 05:27:PM
ReadMe-AER-2011-1429-JacksonYariv.pdf	application/pdf	25.3 KB	10/11/2019 05:27:PM

Project Description

Summary: We study collective decisions by time-discounting individuals choosing a common consumption stream. We show that with any heterogeneity in time preferences, utilitarian aggregation necessitates a present bias. In lab experiments three quarters of "social planners" exhibited present biases, and less than two percent were time consistent. Roughly a third of subjects acted as if they were pure utilitarians, and the rest chose as if they also had varying degrees of distributional concerns. (JEL C91, D12, D71, D72)

Scope of Project

JEL Classification:
      C91 Design of Experiments: Laboratory, Individual
      D12 Consumer Economics: Empirical Analysis
      D71 Social Choice; Clubs; Committees; Associations
      D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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Published Versions

V1 [2019-10-11]

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