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Tests for time invariance in decisions for money and effort: an experiment

Research Project

Project/Area Number 20K22136
Research Category

Grant-in-Aid for Research Activity Start-up

Allocation TypeMulti-year Fund
Review Section 0107:Economics, business administration, and related fields
Research InstitutionWaseda University

Principal Investigator

Shiba Shotaro  早稲田大学, 政治経済学術院, その他(招聘研究員) (20877740)

Project Period (FY) 2020-09-11 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2021: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2020: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Keywordstime preference / time inconsistency / time invariance / dynamic experiment / 時間選好 / 時間非整合性 / preference stability / Time invariance / Dynamic experiment / economic experiment / time variant preference
Outline of Research at the Start

個人の時間非整合的傾向(例えば前日決めたダイエット計画を先延ばしする)は社会厚生にも関わる重大な関心事であり、多くの実証研究が経済学実験を用いてその傾向を調べてきた。しかし従来の実験にはある特別な仮定(選択のtime invariance)が必要であり、近年その点を批判する研究が増えている。本研究では、選択のtime invarianceを直接テストして調べることで、どのような場合に従来の手法が正当化できるか明らかにすることを目指す。

Outline of Final Research Achievements

In this study, we conducted an experimental investigation concerning the assumption of time invariance, which posits that an individual's decision-making about the future remains consistent over time. This assumption has implicitly been imposed in empirical research on time preference, especially regarding time inconsistency of preferences (e.g., procrastination). Recently, there has been debate about whether this assumption can be justified. Our study demonstrates empirically through experiments that this assumption is valid. If an individual's decisions differ at different points in time, it may be due to changes in underlying variables such as income or busyness at those times.

Academic Significance and Societal Importance of the Research Achievements

選好がtime invariantであれば,個人の先送り傾向(例えば嫌なことを先送りしがち,など)は一回のアンケートで簡単に測れる.従って本研究の結果は,この傾向を測るためには,本当に先送り可能な意思決定環境を用意する必要がないことを示唆している.様々な社会調査や経済実験で個人の先送り傾向が容易に測定できれば,それは様々な研究(例えば先送り傾向と本人の経済行動との関係を検証するなど)に利用できる.本研究はその前提条件を支持するエビデンスを提供したものといえる.

Report

(5 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • Research Products

    (4 results)

All 2023 2022 2021

All Presentation (4 results) (of which Int'l Joint Research: 1 results)

  • [Presentation] Tests for time invariance in decisions for money and effort: an experiment2023

    • Author(s)
      Shotaro Shiba
    • Organizer
      Asia-Pacific Economic Science Association Meeting
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Testing time invariance of time preference for monetary and non-monetary outcomes2023

    • Author(s)
      Shotaro Shiba
    • Organizer
      WINPEC Microeconomics workshop
    • Related Report
      2022 Research-status Report
  • [Presentation] 金銭・非金銭利得への時間選好のtime varianceの検証2022

    • Author(s)
      Shotaro Shiba
    • Organizer
      行動経済学会
    • Related Report
      2022 Research-status Report
  • [Presentation] Tests for sign-dependency of time inconsistency using suitable experiments2021

    • Author(s)
      芝正太郎
    • Organizer
      Decision theory workshop
    • Related Report
      2021 Research-status Report

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Published: 2020-09-29   Modified: 2025-01-30  

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