A Vague Theory of Choice over Time

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. Our model explains behavioural `anomalies' such as preference reversal and cyclical choice.

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Year of publication:	2006
Authors:	Manzini, Paola ; Mariotti, Marco
Published in:	Advances in Theoretical Economics. - Berkeley Electronic Press. - Vol. 6.2006, 1, p. 1265-1265
Publisher:	Berkeley Electronic Press
Subject:	time preferences \| hyperbolic discounting \| preference reversal \| cycles \| intransitive preferences

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Extent:	application/pdf
Type of publication:	Article
Notes:	oai:bepress:bejte-1265
Classification:	A12 - Relation of Economics to Other Disciplines
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005751127