Impatience and Uncertainty: Experimental Decisions Predict Adolescents’ Field Behavior

Impatience and Uncertainty: Experimental Decisions Predict Adolescents’ Field Behavior

Matthias Sutter
University of Innsbruck,
University of Gothenburg and IZA
Martin G. Kocher
University of Munich
Daniela Rützler
University of Innsbruck
Stefan T. Trautmann
University of Tilburg

ABSTRACT
Impatience and Uncertainty:
Experimental Decisions Predict Adolescents’ Field Behavior*

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and
adolescents, aged ten to eighteen years, in an incentivized experiment. We relate experimental choices to field behavior. Experimental measures of impatience are found to be significant predictors of health related field behavior and saving decisions. In particular, more impatient children and adolescents are more likely to spend money on alcohol and cigarettes, have a higher body mass index (BMI) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of field behavior.

JEL Classification: C91, C93, D81, D90

Keywords: experiments with children and adolescents, risk, ambiguity, time preferences,
health status, savings, external validity, field behavior