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Social Preferences, Financial Literacy and Intertemporal Choice

DOI: 10.4236/oalib.1103699, PP. 1-11

Subject Areas: Behavioral Economics

Keywords: Social Preferences, Social Value Orientation, Financial Literacy, Intertemporal Choice, Hyperbolic Discounting, Impatience

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Abstract

We evaluate the relationship between social preferences, financial literacy and intertemporal choice in questionnaires distributed to university students. Most respondents perform well on a financial literacy test, and the majority show prosocial value orientation. Older students tend to be more prosocial, but we cannot confirm in our sample that females are more prosocial than males. We cannot confirm, either, that the prosocial are more financially literate than individualists and the competitive. Most respondents do not show hyperbolic discounting, and its incidence abates as both stakes and payoff delays increase. Prosocial participants also reveal to be more patient across the questionnaires.

Cite this paper

Silva, S. D. , Faveri, D. D. , Correa, A. and Matsushita, R. (2017). Social Preferences, Financial Literacy and Intertemporal Choice. Open Access Library Journal, 4, e3699. doi: http://dx.doi.org/10.4236/oalib.1103699.

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