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Quarterly Journal of Economics Vol. 133 No. 4 2018

Global Evidence on Economic Preferences*

Armin Falk1; Anke Becker2; Thomas Dohmen3; Benjamin Enke4; David Huffman5; Uwe Sunde6

1 University of Bonn and BRIQ Institute on Behavior and Inequality · 2 Harvard University · 3 University of Bonn and Institute of Labor Economics · 4 Harvard University and National Bureau of Economic Research · 5 University of Pittsburgh · 6 University of Munich

open access

Abstract

This article studies the global variation in economic preferences. For this purpose, we present the Global Preference Survey (GPS), an experimentally validated survey data set of time preference, risk preference, positive and negative reciprocity, altruism, and trust from 80,000 people in 76 countries. The data reveal substantial heterogeneity in preferences across countries, but even larger within-country heterogeneity. Across individuals, preferences vary with age, gender, and cognitive ability, yet these relationships appear partly country specific. At the country level, the data reveal correlations between preferences and biogeo-graphic and cultural variables, such as agricultural suitability, language structure, and religion. Variation in preferences is also correlated with economic outcomes and behaviors. Within countries and subnational regions, preferences are linked to individual savings decisions, labormarket choices, and prosocial behaviors. Across countries, preferences vary with aggregate outcomes ranging from per capita income, to entrepreneurial activities, to the frequency of armed conflicts.

DOI
10.1093/qje/qjy013
Volume
133
Issue
4
Pages
1645-1692
Language
en
Sources
bibtex:phds-export.bib openalex crossref

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