Present bias, financial sources and productive variables: evidence of a group of milk producers in Hermosillo, Sonora
The aim of this work is to relate the present bias (PB) with financial sources choice and productive variables of a group of milk producers in Hermosillo, Sonora. A sample of 53 milk producers (8 women and 45 men) with an age range of 29 to 73 years was intentionally selected. Through a socio-economic, productive and financial questionnaire and a choice test, it was found that: (a) the 51% of the producers choose informal sources, of which 72% presented PB; (b) a total milk production of 7,128 liters per day was registered, where 59% of the volume produced corresponded to PB producers; and (c) statistically significant differences were found between the PB and the type of financial source, but not between PB and production. The results in the present investigation not only reflect the high prevalence of PB in the producers, but also have inconsistency in their preferences, which may affect the development of the production unit.
Keywords: Present bias; financial sources; milk production; intertemporal choice