Work

Time is knowledge: what response times reveal

Year: 2024

Type: article

Abstract: Response times contain information about economically relevant but unobserved variables like willingness to pay, preference intensity, quality, or happiness. We provide a general characterization of the properties of latent variables that can be detected using response time data. Our theoretical framework unifies and generalizes results in the literature and gives rise to many new applications. We illustrate the rich insights that the method can deliver through several empirical applications: revealed preference analysis, identifying an optimal nudge, testing decreasing marginal happiness of income, and predicting treatment heterogeneity.

Source: Zurich Open Repository and Archive (University of Zurich)

DOI: 10.5167/uzh-280500

Authors: Benkert, Jean-Michel, Liu, Shuo, Netzer, Nick

Language: English

Topic: Economic and Environmental Valuation

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W7106309226

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