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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/20491| Title: | A Vague Theory of Choice over Time |
| Keywords: | D90 C70 A12 ddc:330 time preferences hyperbolic discounting preference reversal cycles intransitive preferences Zeitpräferenz Verhaltensökonomik Präferenztheorie Zeitkonsistenz Theorie now or never fallacy |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | We propose a novel approach to modelling time preferences, based on a cognitive shortcoming of human decision makers: the perception of future events becomes increasingly ?blurred? as the events are pushed further in time. We axiomatise a class of preference representations which can be specialised to rationalise ?anomalies? such as preference reversals and cyclical preferences. We also present an application to a form of time inconsistency which we dub ?the now or never fallacy?. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/20491 |
| Other Identifiers: | http://hdl.handle.net/10419/20491 ppn:393548368 |
| Appears in Collections: | EconStor |
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