The Australian Twins Economic Preferences Survey

Area of Science:

• Behavioral economics
• Behavioral genetics
• Psychology

Background:

• Understanding economic preferences is crucial for behavioral economics and genetics.
• Large-scale twin studies provide unique insights into the genetic and environmental influences on preferences.
• The COVID-19 pandemic presented unique circumstances for data collection on societal and individual behaviors.

Purpose of the Study:

• To introduce the Australian Twins Economic Preferences Survey (ATEPS) dataset.
• To describe the comprehensive measures of economic preferences and behaviors collected.
• To highlight the potential of ATEPS for research in social science and genetics.

Main Methods:

• The Australian Twins Economic Preferences Survey (ATEPS) involved 1,120 adult twins (560 pairs).
• Incentivized decision tasks were used to elicit measures of risk aversion, impatience, ambiguity aversion, trust, and confidence.
• Data collection occurred during the COVID-19 pandemic, incorporating pandemic experiences, political attitudes, and mental wellbeing.

Main Results:

• The ATEPS dataset is one of the largest collections of incentivized preference measures from twins.
• The survey successfully gathered diverse data on economic preferences, behaviors, and pandemic-related factors.
• The dataset provides a rich resource for exploring the interplay of genetics, environment, and economic decision-making.

Conclusions:

• The ATEPS dataset offers a valuable resource for advancing research in behavioral economics, genetics, and social sciences.
• Future research can leverage ATEPS to investigate the determinants of economic preferences and their relationship with other individual characteristics.
• The inclusion of pandemic-related data allows for unique analyses of behavior during a global crisis.