  This paper empirically analyzes how individual characteristics are associated
with risk aversion, loss aversion, time discounting, and present bias. To this
end, we conduct a large-scale demographically representative survey across
eight European countries. We elicit preferences using incentivized multiple
price lists and jointly estimate preference parameters to account for their
structural dependencies. Our findings suggest that preferences are linked to a
variety of individual characteristics such as age, gender, and income as well
as some personal values. We also report evidence on the relationship between
cognitive ability and preferences. Incentivization, stake size, and the order
of presentation of binary choices matter, underlining the importance of
controlling for these factors when eliciting economic preferences.
