Negative Time Preference & the Czech Sugar Industry from 1896 to 1926

This study examines economic behaviour in the Czech sugar industry
(1896–1925) to test Austrian time preference theory. Using heuristic narrative
content analysis, it develops an assumption model based on Mises’ concept of
positive time preference and applies it to institutional data from industry
executive reports. Research identifies 15 instances deviating from the positive
preference model, indicating potential negative time preference, especially
after 1918. The findings suggest that negative time preference can emerge
within institutional frameworks under specific historical conditions,
particularly those shaped by Czech nationalist narratives and linked to broader
social, political, and cooperative industrial objectives.

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