Factors affecting soldiers' time preference: A field study in Israel

The current field study examines how the day of the week, optimism level and other personal characteristics influences the time preference of soldiers. To do this, we compare the time discount of soldiers in the Israel Defense Forces at the beginning of the work week (Sunday in Israel) and just prior to the weekend (on Thursday afternoon in Israel). The soldiers were asked to answer questionnaires regarding their time preferences, and dispositional optimism. We found that the soldiers have a higher subjective discount rate on Thursday when they need money for weekend activities. In addition, we found that optimism, being a firstborn sibling, having parents with higher earnings, and time remaining until discharge are negatively related to subjective discount rate. Conversely, having a balanced bank account is positively related to subjective discount rate.