Replication Report: Concentration Bias in Intertemporal Choice
Dertwinkel-Kalt et al. (2022) examine the effect of concentration bias - the tendency to overweight advantages that are concentrated in time relative to costs that are spread over multiple time periods - on intertemporal choice in a laboratory experiment. In their preferred empirical specification, the authors report that concentration bias leads to a 22.4% higher willingness to work than explained by a standard model of intertemporal discounting. We conduct a computational replication of the main results of the paper using the same procedures and original data. Our results confirm the sign, magnitude and statistical significance of the author’s reported estimates across each of their five main findings.