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Does age affect the relation between risk and time preferences? Evidence from a representative sample

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  • معلومة اضافية
    • Contributors:
      Centre de recherche en économie et management (CREM); Université de Caen Normandie (UNICAEN); Normandie Université (NU)-Normandie Université (NU)-Université de Rennes (UR)-Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Sciences Economiques (AMSE); École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS); Centre d'Economie de l'Environnement - Montpellier (CEE-M); Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)-Institut Agro Montpellier; Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Université de Montpellier (UM); This project has been funded by the French National Research Agency (ANR) and by the Occitanie region.
    • بيانات النشر:
      HAL CCSD
      Southern Economic Association
    • الموضوع:
      2023
    • نبذة مختصرة :
      International audience ; 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.
    • Relation:
      hal-04217414; https://hal.inrae.fr/hal-04217414; https://hal.inrae.fr/hal-04217414/document; https://hal.inrae.fr/hal-04217414/file/Southern%20Economic%20Journal%20-%202023%20-%20Wang.pdf; WOS: 001070958100001
    • الرقم المعرف:
      10.1002/soej.12662
    • Rights:
      http://creativecommons.org/licenses/by-nc-nd/ ; info:eu-repo/semantics/OpenAccess
    • الرقم المعرف:
      edsbas.27F1AA59