TY - JOUR
T1 - Patience, Cognitive Abilities, and Cognitive Effort
T2 - Survey and Experimental Evidence From a Developing Country
AU - Bortolotti, Stefania
AU - Dohmen, Thomas
AU - Lehmann, Hartmut
AU - Meyer, Frauke
AU - Pignatti, Norberto
AU - Torosyan, Karine
N1 - data source: self-collected data from a survey and an experiment conducted in Tbilisi
PY - 2021/10
Y1 - 2021/10
N2 - This study sheds light on the relationship between cognition and patience by documenting that the correlation between cognitive abilities and delay discounting is weaker for the same group of individuals if choices are incentivized. This study conjectures that higher cognitive effort, which induces higher involvement of the cognitive system, moderates the relationship between patience and cognition. For 107 participants drawn from the adult population in Tbilisi, this study examines the relationship between various measures of cognitive ability and that of patience. Specifically, we consider the relationship between the Cognitive Reflection Test, a numeracy test, self-reported math ability measure, enumerators' assessments, and incentivized and hypothetical trade-offs between smaller-sooner and larger-later payments.
AB - This study sheds light on the relationship between cognition and patience by documenting that the correlation between cognitive abilities and delay discounting is weaker for the same group of individuals if choices are incentivized. This study conjectures that higher cognitive effort, which induces higher involvement of the cognitive system, moderates the relationship between patience and cognition. For 107 participants drawn from the adult population in Tbilisi, this study examines the relationship between various measures of cognitive ability and that of patience. Specifically, we consider the relationship between the Cognitive Reflection Test, a numeracy test, self-reported math ability measure, enumerators' assessments, and incentivized and hypothetical trade-offs between smaller-sooner and larger-later payments.
KW - behavioral economics
KW - cognition
KW - patience
KW - experimental evidence
KW - developing country
U2 - 10.1177/0002764221996744
DO - 10.1177/0002764221996744
M3 - Article
SN - 0002-7642
VL - 65
SP - 1512
EP - 1530
JO - American Behavioral Scientist
JF - American Behavioral Scientist
IS - 11
M1 - 0002764221996744
ER -