Similarity and social discounting
Résumé
Social discounting refers to the idea that decision-makers discount payoffs as a function of social distance. We measure social distances via interpersonal similarity; that is, how similar or different others are to the decision-maker. In two large, pre-registered online experiments, subjects make repeated choices between options that provide different amounts of money to recipients at varying degrees of similarity. Our experiments control for a number of factors to cleanly measure preferences. We estimate a social discount function and find evidence for social discounting. Our estimates imply that a decision-maker would be indifferent between a dissimilar other receiving $1 or themselves receiving $0.83. In our second experiment where self is included as a potential recipient, we find evidence for quasi-hyperbolic social discounting.
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Beranek, Castillo - Similarity and social discounting.pdf (812.32 Ko)
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