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Intertemporal stability of survey-based measures of risk and time preferences over a three-year course

Drichoutis, Andreas C. and Vassilopoulos, Achilleas (2016): Intertemporal stability of survey-based measures of risk and time preferences over a three-year course.

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Abstract

Given the importance of risk and time preferences for economics and other disciplines, we seek to examine the intertemporal stability of six related survey-based measures. Using a panel of subjects over a three-year course, between 2013 and 2015, we find aggregate stability of all six measures over the time span of our data. With few exceptions, the measures also show remarkably high individual stability over the examined period. Our results contribute to the wider adoption of survey-based measures, especially considering the ease with which such measures can be incorporated in large-scale surveys.

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