Time Preference and Technology Adoption: A Single-Choice Experiment with U.S. Farmers

We elicit time-discounting behavior from U.S. farmers that are broadly known to be either late or early adopters of farming best management practices. Using a single-choice experiment, we estimate the mean discount rate for each farmer group and find that late adopters have a mean discount rate that is thirteen percentage points higher than the mean rate of early adopters. We argue through simulations that this difference is likely due to differences in time preference rather than risk aversion.


Issue Date:
2013
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/150719
Total Pages:
24
JEL Codes:
C93; D01; D03; D81; Q18; Q52
Series Statement:
Paper
3302




 Record created 2017-08-04, last modified 2017-11-14

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)