My da|ra Login

Detailed view

metadata language: English

Code for: Time Discounting and Wealth Inequality

Version
1
Resource Type
Dataset : program source code
Creator
  • Epper, Thomas (University of St.Gallen, School of Economics and Political Science; University of Zurich, Department of Economics; Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
  • Fehr, Ernst (University of Zurich, Department of Economics; Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
  • Fehr-Duda, Helga (University of Zurich, Department of Banking and Finance; Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
  • Kreiner, Claus Thustrup (Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
  • Lassen, David Dreyer (Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
  • Leth-Petersen, Søren (Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
  • Rasmussen, Gregers Nytoft (Center for Economic Behavior and Inequality (CEBI), Department of Economics, University of Copenhagen)
Publication Date
2019-12-30
Funding Reference
  • European Research Council
    • Award Number: 295642, 313673
  • Danish National Research Foundation
    • Award Number: 134
  • Candys Foundation
Free Keywords
Wealth inequality; savings behavior; time discounting; experimental methods; administrative data
Description
  • Abstract

    This paper documents a large association between individuals’ time discounting in incentivized experiments and their positions in the real-life wealth distribution derived from Danish high-quality administrative data for a large sample of middle-aged individuals. The association is stable over time, exists through the wealth distribution and remains large after controlling for education, income profile, school grades, initial wealth, parental wealth, credit constraints, demographics, risk preferences and additional behavioral parameters. Our results suggest that savings behavior is a driver of the observed association between patience and wealth inequality as predicted by standard savingstheory.
  • Weighting

    no
  • Technical Information

    Response Rates: A total of 27,613 individuals received a personal invitation letter in hard copy from the University of Copenhagen. The analysis includes the 3,620 of the invitees, who successfully completed the experiment on the experimental platform and received a payment (13 percent of all invitees).


Sampling
Respondents were recruited by sampling individuals from the Danish population register satisfying the criteria that they were born in the period 1973-1983 and resided in the municipality of Copenhagen (which is the largest municipality in Denmark and includes the capital city) when they were seven years old.

Collection Mode
  • other~~web-based survey~~

Availability
Download
Publications
  • Epper, Thomas, Ernst Fehr, Helga Fehr-Duda, Claus Thustrup Kreiner, David Dreyer Lassen, Søren Leth-Petersen, and Gregers Nytoft Rasmussen. “Time Discounting and Wealth Inequality.” American Economic Review, n.d.

Update Metadata: 2020-03-24 | Issue Number: 1 | Registration Date: 2020-03-24

Epper, Thomas; Fehr, Ernst; Fehr-Duda, Helga; Kreiner, Claus Thustrup; Lassen, David Dreyer et. al. (2019): Code for: Time Discounting and Wealth Inequality. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E115221V1-23281