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Individual preferences and their determinants: An assessment over risk and time preferences

Abstract:

Risk and time are transversal elements in the economic analysis, over which specific predefined assumptions are determined. On the contrary, extensive experimental evidence shows that these preferences are not exogenous, and their heterogeneity deserves to be determined in the modelling of behaviour. This paper presents evidence regarding the determinants of individual preferences in both domains: risk and time, in a context of developing countries. The analysis involves experimental mechanisms to elicit preferences with psychological constructs and self-reported measures