Abstract: In this paper, we examine the relative influence of individual decisions on joint household decisions, and whether and to what extent joint choices are more or less patient than individual choices in households. We find that both spouses have a significant influence on joint decisions, whereas husbands on average have a stronger influence than wives. Moreover, we find a substantial share of choice shifts from individual to joint household decisions, i.e. joint decisions are either more patient or more impatient than both individual choices.

Abstract: We examine whether and to what extent joint choices are more or less patient and time - consistent than individual choices in households. We use data from an artefactual field experiment where both individual and joint time preferences were elicited. We find a substantial shift from individual to joint household decisions. Interestingly, joint decisions do not only generate beneficial shifts, i.e., patient and time - consistent shifts. On the contrary, a majority of the observed shifts are impatient and time - inconsistent shifts.