Risk, time and social preferences: Evidence from large scale experiments

Mitzi Perez Padilla

Research output: ThesisDoctoral Thesis

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Abstract

This dissertation contains four chapters studying individual preferences and economic decision-making. The first three chapters study preferences for risk taking and intertemporal choice. First, it asks the question whether economic preferences are related to psychological measures of personality and whether they have similar prediction power on financial decisions. Our main finding is that the channels through which personality affect economic behavior is different than those measured by economic preferences. The next two papers ask the following questions: How are financial choices within a household being made? If a household is composed of more than one individual, which family members decide and what influences their decisions? Are individual preferences considered stable over time? These questions are approached by using experimental data and information on actual financial choices such as household portfolio composition and financial wealth. Findings suggest that bargaining power with respect to risky and intertemporal choices is not equally divided within couples. The third essay finds a positive correlation between preferences over time, and no strong evidence for cross-couple effects of economic or health shocks. The last chapter discusses the relationship between social preferences, specifically, trust and trustworthiness and socio-economic status.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • van Soest, Arthur, Promotor
  • Suetens, Sigrid, Co-promotor
Award date27 Oct 2017
Place of PublicationTilburg
Publisher
Print ISBNs978 90 5668 525 6
Publication statusPublished - 2017

Fingerprint

Social preferences
Risk preferences
Economics
Experiment
Time preference
Intertemporal choice
Individual preferences
Household
Bargaining power
Health shocks
Prediction
Financial wealth
Household portfolios
Psychological
Risky choice
Trustworthiness
Decision making
Risk taking
Economic shocks
Financial decisions

Cite this

Perez Padilla, M. (2017). Risk, time and social preferences: Evidence from large scale experiments. Tilburg: CentER, Center for Economic Research.
Perez Padilla, Mitzi. / Risk, time and social preferences : Evidence from large scale experiments. Tilburg : CentER, Center for Economic Research, 2017. 161 p.
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Perez Padilla, M 2017, 'Risk, time and social preferences: Evidence from large scale experiments', Doctor of Philosophy, Tilburg University, Tilburg.

Risk, time and social preferences : Evidence from large scale experiments. / Perez Padilla, Mitzi.

Tilburg : CentER, Center for Economic Research, 2017. 161 p.

Research output: ThesisDoctoral Thesis

TY - THES

T1 - Risk, time and social preferences

T2 - Evidence from large scale experiments

AU - Perez Padilla, Mitzi

PY - 2017

Y1 - 2017

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AB - This dissertation contains four chapters studying individual preferences and economic decision-making. The first three chapters study preferences for risk taking and intertemporal choice. First, it asks the question whether economic preferences are related to psychological measures of personality and whether they have similar prediction power on financial decisions. Our main finding is that the channels through which personality affect economic behavior is different than those measured by economic preferences. The next two papers ask the following questions: How are financial choices within a household being made? If a household is composed of more than one individual, which family members decide and what influences their decisions? Are individual preferences considered stable over time? These questions are approached by using experimental data and information on actual financial choices such as household portfolio composition and financial wealth. Findings suggest that bargaining power with respect to risky and intertemporal choices is not equally divided within couples. The third essay finds a positive correlation between preferences over time, and no strong evidence for cross-couple effects of economic or health shocks. The last chapter discusses the relationship between social preferences, specifically, trust and trustworthiness and socio-economic status.

M3 - Doctoral Thesis

SN - 978 90 5668 525 6

T3 - CentER Dissertation Series

PB - CentER, Center for Economic Research

CY - Tilburg

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Perez Padilla M. Risk, time and social preferences: Evidence from large scale experiments. Tilburg: CentER, Center for Economic Research, 2017. 161 p. (CentER Dissertation Series).