Social motives vs social influence: an experiment on interdependent time preferences

Article


Rodriguez-Lara, I. and Ponti, G. 2017. Social motives vs social influence: an experiment on interdependent time preferences. Games and Economic Behavior. 105, pp. 177-194. https://doi.org/10.1016/j.geb.2017.06.007
TypeArticle
TitleSocial motives vs social influence: an experiment on interdependent time preferences
AuthorsRodriguez-Lara, I. and Ponti, G.
Abstract

We report experimental evidence on the effects of social preferences on intertemporal decisions. To this aim, we design an intertemporal Dictator Game to test whether Dictators modify their discounting behavior when their own decision is imposed on their matched Recipients. We run four different treatments to identify the effect of payoffs externalities from those related to information and beliefs. Our descriptive statistics show that heterogeneous social time preferences and information about others’ time preferences are significant determinants of choices: Dictators display a marked propensity to account for the intertemporal preferences of Recipients, both in the presence of externalities (social motives) and/or when they know about the decisions of their matched partners (social influence). We also perform a structural estimation exercise to control for heterogeneity in risk attitudes. As for individual behavior, our estimates confirm previous studies in that high risk aversion is associated with low discounting. As for social behavior, we find that social motives outweigh social influence, especially when we restrict our sample to pairs of Dictators and Recipients who satisfy minimal consistency conditions.

LanguageEnglish
PublisherElsevier
JournalGames and Economic Behavior
ISSN0899-8256
Publication dates
Online26 Jul 2017
Print01 Sep 2017
Publication process dates
Deposited07 Jun 2017
Accepted06 Jun 2017
Submitted14 May 2014
Output statusPublished
Publisher's version
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Accepted author manuscript
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Copyright Statement

© 2017 The Author(s). Published by Elsevier Inc. This is an open access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/).

Digital Object Identifier (DOI)https://doi.org/10.1016/j.geb.2017.06.007
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