Abstract: In this paper, we conduct a high stake experiment in rural China to investigate the determinants of individual and joint decisions regarding intertemporal choices, and estimate the relative influence of spouses on the joint decisions. We use the Convex Time Budget experimental method to elicit individual and joint decisions on how much money to allocate to an early and a later date. We find that the rates of return have significant effects on the decisions, yet both individual and joint decisions exhibit present-biased time preferences.

Abstract: We examine whether and to what extent joint choices are more or less patient and time - consistent than individual choices in households. We use data from an artefactual field experiment where both individual and joint time preferences were elicited. We find a substantial shift from individual to joint household decisions. Interestingly, joint decisions do not only generate beneficial shifts, i.e., patient and time - consistent shifts. On the contrary, a majority of the observed shifts are impatient and time - inconsistent shifts.

We analyze optimal social discount rates when people derive utility from relative consumption, i.e. their own consumption level relative to the consumption level of others. We compare the social, private, and conventional Ramsey rates. Assuming a positive growth rate, we find that (1) the social discount rate exceeds the private discount rate if the importance of relative consumption increases with consumption, and that (2) the social discount rate is lower than the Ramsey rate given quasi-concavity in own and others' consumption and risk aversion with respect to others' consumption.

This policy brief discusses the whether the  preference of Swedish forestry stakeholders is biodiversity or production goals. Healthy and productive forests benefit us all, but what are the priorities of those directly managing Swedish forests? This brief presents a comparison of the preferences of key stakeholders regarding Swedish forest management and biodiversity protection.

Randomized controlled trials (RCTs) in the social sciences are typically not double-blind, so participants know they are “treated” and will adjust their behavior accordingly. Such effort responses complicate the assessment of impact.

Pro-environmental behavior is the willingness to cooperate and contribute to environmental public goods. A good understanding of why individuals undertake pro-environmental actions is important in order to construct policies that are aligned with preferences and actual behavioral patterns, such as concern for social esteem and reputation.