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We propose that individuals consider future versions of themselves to truly be separate persons, not simply as a convenient modeling device but in terms of actual brain systems and decision]making processes. Intertemporal choices are thus quite literally strategic interactions between multiple...
Persistent link: https://www.econbiz.de/10003914091
Intertemporal choice has drawn attention in behavioral economics, econophysics, and neuroeconomics. Recent studies in mainstream economics have mainly focused on inconsistency in intertemporal choice (dynamic inconsistency); while impulsivity/impatience in intertemporal choice has been...
Persistent link: https://www.econbiz.de/10014180407
This is the first definitive introduction to behavioral economics aimed at advanced undergraduate and postgraduate students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and relevant applications throughout
Persistent link: https://www.econbiz.de/10011485040
expected utility theory (EU) -- 1.2.2 Attitudes to risk under EU …1.3 Subjective expected utility theory (SE -- 1.4 Eliciting the utility function under EU -- 1.4.1 The case of known … probabilities -- 1.4.2 The case of unknown probabilities -- 1.5 Violations of expected utility theory -- 1.5.1 Violations of the …
Persistent link: https://www.econbiz.de/10011842941
emphasizing utility maximization that, under certain assumptions, result in Pareto-optimal outcomes and a limited role for policy …
Persistent link: https://www.econbiz.de/10014025585
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according to their preferences. Using a large number of choice problems, we are further able to recover individual utility …
Persistent link: https://www.econbiz.de/10012901189
Surveys and opinion polls are essential instruments to elicit societal preferences and uncover differences between socioeconomic or demographic groups. However, survey data is noisy, and survey bias is ubiquitous, limiting the reliability and usefulness of standard analyses. We provide a new...
Persistent link: https://www.econbiz.de/10013464371
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