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Time preference and intertemporal behavior are of basic importance in theoretical and applied studies of decision-making and economic analysis. Present-bias induces individuals to postpone their savings and makes the saving level less than its optimal level. This article studies the present-biased and time preferences in intertemporal consumption-saving behavior among selected students of Ferdowsi University of Mashhad. It examines the effect of interest rate on intertemporal decision-making and tests the impacts of individual factors such as past experiences, gender and consumption expenditure on present-bias. Hence, after reviewing the theoretical basics, the parameters of individual present-biased and time preferences have been estimated by “multiple price list” and “convex time budget” methods. In this experiment, participants were faced with different decision-making situations along with changes in interest rates. The results of experiment show that participants are generally present-biased in their intertemporal behavior. In addition, individuals exhibit more present bias in “multiple price list” method than “convex time budget” method.  While interest rate is an influential factor in intertemporal decision-making, but the intertemporal behavior of students is influenced by their past experiences. There is no significant relationship between gender and present bias. Furthermore, consumption expenditure was independent of present bias.

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Formation of institutions depends on leaders and elite’s beliefs. Some factors influence the beliefs of people. The aim of this study is to identify beliefs affecting the formation of efficient institutions. In this research, the knowledge has been generated by the method of inductive qualitative content analysis, based on the lives of the six persons who have been introduced the experts as influential people in the formation of successful economic institutions. Based on the content analysis of the interviews, the self-efficacy beliefs have positive effects on the formation of efficient institutions, and skills and experiences affect the beliefs. Of two factors influencing self-efficacy belief, the experience of domination (impact of life circumference, and experiences of childhood and teenage) is of high scores in the first three persons than three next ones; however the substitution experience (impact of parents) is similar among sample under study. All six experts had good socioeconomic positions.