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Web Survey Bibliography

Title Measuring Time Preference and the Elasticity of Intertemporal Substitution with Web Surveys
Year 2007
Access date 23.10.2007
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Preferences that affect intertemporal consumption decisions, in particular, sensitivity to changes in the interest rate, are fundamental to economics, but are seldom directly measured. This paper introduces a series of hypothetical choices in the American Life Panel that employ web graphics to elicit an individual’s elasticity of intertemporal substitution (EIS) and rate of time preference. The Internet design features do appear to encourage more active decision-making on these cognitively difficult questions than a paper version in the 1999 Health and Retirement Study Mailout. Preliminary analysis of the Internet survey responses yields an EIS estimate of 0.10 (standard error of 0.03) and desired consumption growth of -0.4% (standard error of 0.2%) at a zero interest rate. This paper also discusses tile issues with data collection and analysis that arise in the Internet survey.

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Year of publication2007
Bibliographic typeConferences, workshops, tutorials, presentations