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This paper studies the role of goal bracketing to attenuate time inconsistency. When setting non-binding goals for a multi-stage project, an agent must also decide how and when to evaluate himself against such goals. In particular, he can bracket broadly by setting an aggregate goal for the...
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, studies household and consumer use of credit instruments. It shows how individual consumers and households utilize various …In response to growing interest in household finance, this collection of essays with a foreword by John Y. Campbell … credit alternatives in managing their consumption and savings and suggests areas for future research …
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By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance sheet profiles may be perceived as non fungible in a controlled frictionless environment with no probabilistic attributes. A large majority of subjects indeed have a bias in...
Persistent link: https://www.econbiz.de/10012138808
By means of a laboratory experiment, we show that, contrary to standard consumer theory, financially equivalent balance sheet profiles may be perceived as non fungible in a controlled frictionless environment with no probabilistic attributes. A large majority of subjects indeed have a bias in...
Persistent link: https://www.econbiz.de/10012133168
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