Individual laboratory-measured discount rates predict field behavior.

@article{Chabris2008IndividualLD,
  title={Individual laboratory-measured discount rates predict field behavior.},
  author={Christopher F. Chabris and David Laibson and Carrie Lynn Morris and Jonathon P Schuldt and Dmitry Taubinsky},
  journal={Journal of risk and uncertainty},
  year={2008},
  volume={37 2-3},
  pages={237-269}
}
We estimate discount rates of 555 subjects using a laboratory task and find that these individual discount rates predict inter-individual variation in field behaviors (e.g., exercise, BMI, smoking). The correlation between the discount rate and each field behavior is small: none exceeds 0.28 and many are near 0. However, the discount rate has at least as much predictive power as any variable in our dataset (e.g., sex, age, education). The correlation between the discount rate and field behavior… CONTINUE READING
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