Publications
Publications
- April 2023
- Management Science
The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences
By: Armin Falk, Anke Becker, Thomas Dohmen, David B. Huffman and Uwe Sunde
Abstract
Incentivized choice experiments are a key approach to measuring preferences in economics but are also costly. Survey measures are a low-cost alternative but can suffer from additional forms of measurement error due to their hypothetical nature. This paper seeks to leverage the strengths of both approaches by proposing a new survey module on risk aversion, time discounting, trust, altruism, positive and negative reciprocity, in which survey items are selected based on ability to predict choices in corresponding, incentivized experiments. The methodology and results provided in the paper can also potentially pro-vide a model for researchers who have specific requirements and want to design their own modules.
Keywords
Survey Validation; Experiment; Preference Measurement; Surveys; Economics; Behavior; Measurement and Metrics
Citation
Falk, Armin, Anke Becker, Thomas Dohmen, David B. Huffman, and Uwe Sunde. "The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences." Management Science 69, no. 4 (April 2023): 1935–1950.