Becker Friedman Institute

Research Repository

Research. Insights. Impact. Advancing the Legacy of Chicago Economics.

The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences

This paper presents an experimentally validated survey module to measure six key economic preferences { risk aversion, discounting, trust, altruism, positive and negative reciprocity in a reliable, parsimonious and cost-effective way. The survey instruments included in the module were the best predictors of preferences revealed in incentivized choice experiments. We also offer a streamlined version of the module that has been optimized and piloted for applications where time efficiency and simplicity are paramount, such as international telephone surveys.

Armin Falk, University of Bonn
Anke Becker, Bonn Graduate School of Economics
Thomas Dohmen, Universität Bonn
David Huffman, Swarthmore College
Uwe Sunde, University of Munich
Publication Date: 
February, 2016
HCEO Working Groups: 
Publication Status: 
Document Number: 
File Description: 
First version, January, 2016