Many empirical and behavioral studies identify a decreasing slope in the term structure of subjective discount rates. Using an experimental methodology based on “free-time” relative comparisons, this paper aims to identify in individual behaviors whether agents see their psychological value...

ELECTRE TRI is a method designed to sort alternatives evaluated on several criteria into ordered categories. The original method uses limiting profiles. A recently introduced variant uses central profiles. We study the relations between these two variants. We do so by investigating if an ordered...

This article provides an overview of the literature on the psychological value of time. It discusses various determinants of the discount rate and the possibility of hyperbolic discounting. The historical approach helps us to trace the origins of the concept of psychological value of time. This...

Strategy is made of moves, counter-moves, adjustments, actions and reactions. It is founded on an ever-changing external and internal context where numerous actors continuously modify the rules of the game. In these contexts, managers can’t rely on effective planned processes. They have to...

Many empirical and behavioral studies underline the idea of a non-flat term structure of subjective interest rates with a decreasing slope. Using an empirical test, this paper aims at identifying in individual behaviors whether agents see their psychological value of time decreasing or not. We...

Hypothetical bias is a long-standing issue in stated preference and contingent valuation studies—people tend to overstate their preferences when they do not experience the real monetary consequences of their decision. This view, however, has been challenged by recent evidence based on the...

This paper aims at providing a brief overview of the experimental method’s principles to researchers who face for the first time the use an experimental design. The purpose is also to guide them to a better understanding of the basic notions of control and threats to validities. Thus, they...

This paper presents a new methodology aimed at building institutional indicators. Up to now, all the available indicators have relied on an analysis of the supply of legal protection. Conversely we propose here a methodology based on the analysis of the demand for legal protection, as it is...

Questioning about game theory as an institutionalism theory could seem unsound at first glance. In game theory, the very basic concept of players’ strategies is quite individualistic and really independent on any social constraint and other institutional consideration. On another hand, the...

The process of development is linked to the rise of an integrated and competitive economy and polity that allow a maximal division of labor and innovation. This process relies on two intertwined dynamics. First, in the establishment of the rule of law, legal instruments are appropriated by those...