This chapter provides a behavioral decision perspective on the implications of intertemporal choice research for retirement savings. In particular, we focus on two cognitive mechanisms explaining how and why future monetary outcomes are discounted: (1) changes in the perception of delayed...

This paper shows evidence for expense neglect in how consumers forecast their future spare money or “financial slack.” Even though people generally think that both their income and expenses will rise in the future, we find that they systematically under-weigh the extent to which their...

Consumers often make decisions about outcomes and events that occur over time. This research examines consumers' sensitivity to the prospective duration relevant to their decisions and the implications of such sensitivity for intertemporal trade-offs, especially the degree of present bias (i.e.,...

With the ever-increasing number of options from which consumers can choose, many decisions are done in stages. Whether using decision tools to sort, screen, and eliminate options, or intuitively trying to reduce the complexity of a choice, consumers often reach a decision by making sequential,...

Game-theoretic models of marketing channels typically rely on simplifying assumptions that, from a behavioral perspective, often appear naïve. However, behavioral researchers have produced such an abundance of behavioral regularities that they are impossible to incorporate into game-theoretic...

We demonstrate that people discount delayed task outcomes due to perceived changes over time in supplies of slack. Slack is the perceived surplus of a given resource available to complete a focal task. For temporally near events, investing a resource for one purpose may cause one to fail to...

Game theoretic models of marketing channels typically rely on simplifying assumptions that, from a behavioral perspective, often appear naïve. However, behavioral researchers have produced such an abundance of behavioral regularities that they are impossible to incorporate into game theoretic...