A Note On The Loewenstein-Prelec Theory Of Intertemporal Choice

In one of the major contributions to behavioral economics, Loewenstein and Prelec (1992) set the foundations for the behavioral approach to decision making over time. We correct a number of errors in Loewenstein and Prelec (1992). Furthermore, we provide a correct, more direct and simpler derivation of their generalized hyperbolic discounting formula that has formed the basis of much recent work on temporal choice.

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Year of publication:	2005-07
Authors:	Dhami, Sanjit ; al-Nowaihi, Ali
Institutions:	Department of Economics, Leicester University
Subject:	Anomalies of the DU model \| Intertemporal choice \| Generalized hyperbolic discounting

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Extent:	application/pdf
Series:	Discussion Papers in Economics.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 05/18
Classification:	C60 - Mathematical Methods and Programming. General ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005561948