Investigation of the Convex Time Budget Experiment by Parameter Recovery Simulation

Shimodaira, Yuta; Shiozawa, Kohei; Inukai, Keigo

Institute of Social and Economic Research Discussion Papers, 2022, 1185, 1-36

アクセス数:525件（2026-07-28 01:20 集計）

固定URL: https://hdl.handle.net/11094/89371

論文情報

ファイル出力 EndNote Basic出力 Mendeley出力

タイトル
Investigation of the Convex Time Budget Experiment by Parameter Recovery Simulation
著者
ORCID
0009-0009-0556-4108 0009-0009-0556-4108
researchmap permalink
yshimodaira yshimodaira
著者名
Shimodaira, Yuta
著者名
Shiozawa, Kohei
NRID
1000080706945 1000080706945
著者名
Inukai, Keigo
抄録
The convex time budget (CTB) method is a widely used experimental method for eliciting an individual’s time preference. Researchers adopting the CTB experiment usually assume quasi-hyperbolic discounting utility as a behavioural model and estimate the parameters of the utility function. However, few studies using the CTB method have examined parameter recovery. We conduct simulations and find that the estimation error of the present bias parameter is so large that its effect is difficult to detect. The large error is due to the improper combination of the experimental method and the utility model, and it is not a problem we can deal with after the data collection. This paper suggests the importance of running parameter recovery simulations to audit estimation errors in the experimental design.
出版者
The Institute of Social and Economic Research, Osaka University
収録物名
Institute of Social and Economic Research Discussion Papers
巻(号)
1185
ページ
1-36
刊行年月
2022-08
言語
英語
ハンドルURL
https://hdl.handle.net/11094/89371
PISSN
0473453X
eISSN
24350982
関連情報 (references)
URI
https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2022/DP1185.pdf
アクセス権
metadata only access
カテゴリ
ディスカッション／ワーキング・ペーパー DP/WP
Institute of Social and Economic Research Discussion Papers