Deciphering the Influence of Macroeconomic Environment on Economic Preferences: A Comprehensive Analysis of the Global Preferences Survey

This study investigates the nuanced impact of macroeconomic conditions on various economic preferences, broadening the scope beyond conventional risk preference analysis. Utilizing the Global Preference Survey data with a sophisticated nonlinear regression model, we reveal that favorable macroeconomic conditions boost patience, yet simultaneously reduce risk aversion, altruism, willingness to penalize unfair actions, and trust levels. These significant shifts in economic preferences, driven by macroeconomic scenarios, carry substantial implications for financial markets, investment behaviors, and the broader macroeconomy, necessitating in-depth exploration in financial research and policy design.