How well do laboratory-derived estimates of time preference predict real-world behaviors? Comparisons to four benchmarks.

Abstract

= 55) to predict the variation in the relationship between time preference and behaviors, and although they are reasonably well-calibrated, these experts tend to overestimate the predictive power of time preference estimates. We discuss implications of invoking time preference as a predictor and/or determinant of behaviors with delayed consequences in light of our findings. (PsycInfo Database Record (c) 2023 APA, all rights reserved).

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