TY  - RPRT
        AU  - Glätzle-Rützler, Daniela
AU  - Lergetporer, Philipp
AU  - Sutter, Matthias
        TI  - Collective Intertemporal Decisions and Heterogeneity in Groups
        PY  - 2021/Jan/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 14025
        UR  - https://www.iza.org/publications/dp14025
        AB  - Many important intertemporal decisions are made by groups rather than individuals. What happens to collective decisions when there is internal conflict about the tradeoff between present and future has not been thoroughly investigated so far. We study experimentally the causal effect of group members' heterogeneous payoffs from waiting on intertemporal choices. We find that three-person groups behave more patiently than individuals. This effect stems from the presence of at least one group member with a high payoff from waiting. We analyze additional treatments, group chat content, and survey data to uncover the mechanism through which heterogeneity in groups increases patience.
        KW  - patience
KW  - time preferences
KW  - group decisions
KW  - payoff heterogeneity
KW  - experiment
        ER  -