Alcocer, Christian Diego; Ortegón, Julián; Roa, Alejandro - In: Journal of economics, finance & administrative science 24 (2019) 48, pp. 176-193
Purpose The relevance of present consumption bias on personal finance has been confirmed in several studies and has … authors find the optimal consumption levels in the perfect-information benchmark by backward induction. They then proceed to … free to re-evaluate and change their consumption schedule. This "cost of being vulnerable to falling into temptation" only …