Header

UZH-Logo

Maintenance Infos

How Time Preferences Differ: Evidence from 45 Countries


Hens, Thorsten; Rieger, Marc; Wang, Mei (2009). How Time Preferences Differ: Evidence from 45 Countries. Swiss Finance Institute Research Paper 09-47, University of Zurich.

Abstract

We present results from the first large-scale international survey on time discounting, conducted in 45 countries. Cross-country varia- tion cannot simply be explained by economic variables such as interest rates or inflation. In particular, we find strong evidence for cultural differences, as measured by the Hofstede cultural dimensions. For ex- ample, high levels of Uncertainty Avoidance or Individualism are both associated with strong hyperbolic discounting. Moreover, as applica- tion of our data, we find evidence for an impact of time preferences on the capability of technological innovations in a country and on environmental protection.

Abstract

We present results from the first large-scale international survey on time discounting, conducted in 45 countries. Cross-country varia- tion cannot simply be explained by economic variables such as interest rates or inflation. In particular, we find strong evidence for cultural differences, as measured by the Hofstede cultural dimensions. For ex- ample, high levels of Uncertainty Avoidance or Individualism are both associated with strong hyperbolic discounting. Moreover, as applica- tion of our data, we find evidence for an impact of time preferences on the capability of technological innovations in a country and on environmental protection.

Statistics

Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:2009
Deposited On:05 May 2014 15:58
Last Modified:15 Aug 2017 08:51
Series Name:Swiss Finance Institute Research Paper
Official URL:http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1481443
Other Identification Number:merlin-id:6004

Download

Full text not available from this repository.

TrendTerms

TrendTerms displays relevant terms of the abstract of this publication and related documents on a map. The terms and their relations were extracted from ZORA using word statistics. Their timelines are taken from ZORA as well. The bubble size of a term is proportional to the number of documents where the term occurs. Red, orange, yellow and green colors are used for terms that occur in the current document; red indicates high interlinkedness of a term with other terms, orange, yellow and green decreasing interlinkedness. Blue is used for terms that have a relation with the terms in this document, but occur in other documents.
You can navigate and zoom the map. Mouse-hovering a term displays its timeline, clicking it yields the associated documents.

Author Collaborations