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Author | : Salvador Cruz Rambaud |
Publisher | : Frontiers Media SA |
Total Pages | : 88 |
Release | : 2019-08-16 |
Genre | : |
ISBN | : 2889458032 |
Download Intertemporal Choice and Its Anomalies Book in PDF, ePub and Kindle
This Research Topic of the journals Frontiers in Applied Mathematics and Statistics and Frontiers in Psychology on “Intertemporal choice and its anomalies” has collected ten manuscripts on several fields, which demonstrates that this topic is of interest for many important research activities outside of traditional domains of economics and finance. In effect, the concepts of time preference, rationality and time-inconsistency in intertemporal choice can be applied to a wide variety of social problems such as addictions, retirement plans, and health, among others. On the other hand, the main anomalies or paradoxes in intertemporal choice (such as delay effect, sign effect, magnitude effect, delay-speedup asymmetry, and sequence effect) have been considered, as manifestations of many problematic behaviors of self-control in intertemporal choice.
Author | : George Loewenstein |
Publisher | : |
Total Pages | : 40 |
Release | : 1989 |
Genre | : Decision making |
ISBN | : |
Download Anomalies in Intertemporal Choice Book in PDF, ePub and Kindle
Author | : Germán Loewe Durall |
Publisher | : |
Total Pages | : |
Release | : 2011 |
Genre | : |
ISBN | : 9788469409480 |
Download Further Investigations Into the Anomalies of Rational Intertemporal Choice Book in PDF, ePub and Kindle
Author | : Bianjun Xia |
Publisher | : |
Total Pages | : 0 |
Release | : 2011 |
Genre | : Decision making |
ISBN | : |
Download Essays on Time Preference Anomalies, Intertemporal Choice, Insurance, and Status Book in PDF, ePub and Kindle
The goal of my dissertation is to analyze individuals' behavior when they make choices over time and within a group. The first chapter is devoted to explaining some key time preference anomalies which are inconsistent with the standard discounted utility model. In the second chapter, I focus on how inter-personal comparisons would affect people's intertemporal choices. Finally, the last chapter studies how the concern for status affects the optimal risk sharing across individuals. The first chapter studies some key time preference anomalies. These include the time preference reversal characteristic of hyperbolic discounting, the magnitude effect and the extreme sign effect. I propose a simple explanation of discounting that accounts for these three anomalies simultaneously, within the context of the expected utility model with uncertainty, risk aversion and preference for precautionary saving. The second chapter develops an intertemporal model in which individuals care about consumption not only for its own sake but also for the status it implies. By putting an additive status term into the utility function, I show that the level of inequality in the initial wealth distribution affects individuals' saving and consumption behavior. The direction of the distortion in intertemporal choice relative to the standard model without status depends on the elasticity of intertemporal substitution in the utility from absolute consumption. I also analyze how changes in the initial wealth distribution affect saving. In the third chapter we develop a series of optimal social insurance models in which people care about both consumption per se and the status it implies. We show that the concern for status does impact the optimal contract under various information structures. Particularly, under complete information without commitment problem, the optimal contract may assign all the society resources to the minority group if the status term is convex enough. Under the limited enforcement regime, compared to the optimal allocation in the pure consumption model, it is optimal to transfer more resources to high income people when the status term is convex. Under moral hazard, the relatively lower status resulting from the higher effort level may make implementation of high effort level more difficult.
Author | : M. Haan |
Publisher | : |
Total Pages | : 17 |
Release | : 1997 |
Genre | : |
ISBN | : |
Download A Fairness Explanation to Intertemporal Choice Anomalies Book in PDF, ePub and Kindle
Author | : Ilir Hajdini |
Publisher | : GRIN Verlag |
Total Pages | : 18 |
Release | : 2012-10-16 |
Genre | : Business & Economics |
ISBN | : 3656290008 |
Download Intertemporal Choices in Management Decision Making Book in PDF, ePub and Kindle
Research Paper (postgraduate) from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: 2, University of Vienna, language: English, abstract: This research paper will survey models and experiments for decisions involving outcomes of different amounts at different points of time. Experiments have shown that people like to get rewards earlier than later in time. This is what the concept of Intertemporal choice implies. Thus, this paper will consider theoretical concepts including discounted utility, hyperbolic and quasy-hyperbolic models as well as empirical results indicating how people really make such decisions.
Author | : George Loewenstein |
Publisher | : |
Total Pages | : 320 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780199257065 |
Download Intertemporal Choice Book in PDF, ePub and Kindle
George Loewenstein has been at the forefront of progress in bringing together the disciplines of economics and psychology. One area in which he has made a major contribution is in the analysis of intertemporal choice: the extent to which and reasons why we are prepared to defer some immediate benefit for a greater benefit at a later date. This volume includes Loewenstein's most important papers on the topic and an introduction which sets the papers in an overall framework, taking account of current work in this area.
Author | : Alan Lewis |
Publisher | : Cambridge University Press |
Total Pages | : 1240 |
Release | : 2018-02-15 |
Genre | : Psychology |
ISBN | : 1108547680 |
Download The Cambridge Handbook of Psychology and Economic Behaviour Book in PDF, ePub and Kindle
There has recently been an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods - including laboratory and field experiments, observations, questionnaires and interviews - the Handbook provides comprehensive coverage of theory and method, financial and consumer behaviour, the environment and biological perspectives. This second edition also includes new chapters on topics such as neuroeconomics, unemployment, debt, behavioural public finance, and cutting-edge work on fuzzy trace theory and robots, cyborgs and consumption. With distinguished contributors from a variety of countries and theoretical backgrounds, the Handbook is an important step forward in the improvement of communications between the disciplines of psychology and economics that will appeal to academic researchers and graduates in economic psychology and behavioral economics.
Author | : Steven Durlauf |
Publisher | : Springer |
Total Pages | : 279 |
Release | : 2016-04-30 |
Genre | : Business & Economics |
ISBN | : 0230280781 |
Download Behavioural and Experimental Economics Book in PDF, ePub and Kindle
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Author | : Derek J. Koehler |
Publisher | : John Wiley & Sons |
Total Pages | : 680 |
Release | : 2008-04-15 |
Genre | : Psychology |
ISBN | : 0470752912 |
Download Blackwell Handbook of Judgment and Decision Making Book in PDF, ePub and Kindle
The Blackwell Handbook of Judgment and Decision Making is a state-of-the art overview of current topics and research in the study of how people make evaluations, draw inferences, and make decisions under conditions of uncertainty and conflict. Contains contributions by experts from various disciplines that reflect current trends and controversies on judgment and decision making. Provides a glimpse at the many approaches that have been taken in the study of judgment and decision making and portrays the major findings in the field. Presents examinations of the broader roles of social, emotional, and cultural influences on decision making. Explores applications of judgment and decision making research to important problems in a variety of professional contexts, including finance, accounting, medicine, public policy, and the law.