Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent...

Prices for nearly all basic commodity rose at unprecedented rates throughout early 2008, only to fall nearly as fast as financial markets and global economies began to collapse. Rising food prices in 2008 led to concerns that commodity price spikes would lead to more general food inflation, but...

Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent...

We contribute to the literature on new product valuation by presenting a model of new product introduction based on the distance metric (DM) approach of <xref ref-type="bibr" rid="R32">Pinkse, Slade, and Brett (2002)</xref>. Models based on the DM approach are capable of dealing with highly differentiated food categories that are...