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. - De Gruyter, ISSN 1534-5963, ZDB-ID 2040051-2. - Vol. 6.2006, 1
Publisher:	De Gruyter
Subject:	time preferences \| hyperbolic discounting \| preference reversal \| cycles \| intransitive preferences

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Type of publication:	Article
Type of publication (narrower categories):	research-article
Language:	English
Other identifiers:	10.2202/1534-5963.1265 [DOI]
Source:	Other ZBW resources

Persistent link: https://www.econbiz.de/10014589002