Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hyperbolic Discounting (HD) recently gained particular relevance. This paper points out that, for some particular payoff structures, HD can also represent consistent preferences

The current unsustainable growth of the world economy is largely a consequence of the crisis of social capital experienced by much of the world's population. Declining social capital leads the economies to excessive growth, because people seek economic affluence as compensation for the emotional...

In the economic literature the most widely used type of additive time discounting is Exponential Discounting. Recent work however casts doubts on its ability in explaining how individuals effectively choose. In particular a more general form of discounting that gained importance, in both applied...

This paper argues that the acceptance of two recent methodological advances in economics, namely game theory and laboratory experimentation, was affected by the history dependence constraining the formalization of economics. After an early period in which the two methods were coolly received by...

This paper reports on a laboratory study that examined the influence of experimenter bias in the investment game. Specifically we explored the effect of changing the gender of the experimenter and compared it with the double blind treatment. Our findings show that the presence of a female...

In this paper I provide a descriptive model of choice over time by a population of constrained maximizing agents. Agents’ choice sets are markovian in the sense that they depend on previous choices. The unperturbed dynamics turns out to be trapped into local maxima whatever the length of...

A choice function is a symmetric revealed core if there exists a symmetric irreflexive ‘dominance’ digraph such that choice sets consist precisely of the locally undominated outcomes of the latter. Symmetric revealed pseudocores are similarly defined by omitting the irreflexivity requirement...

A choice function is (weakly) width-maximizing if there exists a dissimilarity- i.e. an irreflexive symmetric binary relation- on the underlying object set such that the choice sets are (include, respectively) dissimilarity chains of locally maximum size. Width-maximizing and weakly...

We consider an extension of the class of multi-utility hyper-relations, the class of semidecent hyper-relations. A semi-decent hyper-relation satisfies monotonicity, stability with respect to contraction, and the union property. We analyze the class of semi-decent hyper-relations both...