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Preference dynamics : a procedurally rational model of time and effort allocation
Krecik, Markus - 2024
Current time allocation and household production models face three major weaknesses: First, they only describe the average time allocation. Thus, information about the order of activities is lost. Therefore, it is impossible to describe the influence of activities on later ones. Such...
Persistent link: https://www.econbiz.de/10014480143
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A needs-based framework for approximating decisions and well-being
Krecik, Markus - 2024
Behavioral economics has so far largely avoided discussing the psychological origins of preferences, as well as their … large amounts of observations for calibration. In this paper, I show how unifying preferences with the psychological concept …. I achieve this by constructing a hierarchical dependency between human motivations and preferences through the language …
Persistent link: https://www.econbiz.de/10014480164
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Values, attitudes and economic behavior
Roos, Michael W. M. - 2018
In this paper, I propose a simple model in which behavior is determined by the individual's attitude towards the behavior and the attitude depends on the individual's values. The model is based on the Schwartz theory of human values, which is very prominent in social psychology. Values are...
Persistent link: https://www.econbiz.de/10011932108
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Context-Dependent Choice as Explained by Foraging Theory
Li, Shengwu - 2018
An agent makes consumption choices in multiple periods. Choice objects vary in type and quality; objects of the same type are inter-temporal substitutes. The current choice set is informative about the distribution over future choice sets. Thus, the presence of unchosen alternatives may...
Persistent link: https://www.econbiz.de/10012936784
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What drives binge-watching? : an economic theory and analysis of impact factors
Gänßle, Sophia; Kunz-Kaltenhäuser, Philipp - 2020
Behavioral patterns in media consumption are changing. With the upcoming of video-on-demand platforms, so-called "binge-watching" gained broad awareness. To the best of our knowledge, this is the first economic analysis explicitly on binge-watching. We approach the phenomenon by arguing that it...
Persistent link: https://www.econbiz.de/10012199866
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The swaps index for consumer choice
Lu, Mia; Netzer, Nick - 2022
We extend the swaps index of rationality, introduced by Apesteguia and Ballester (2015) for a finite set of alternatives, to the standard consumer choice setting with infinite commodity spaces. Applications include consumer demand from competitive budget sets and the state-space approach to...
Persistent link: https://www.econbiz.de/10013440072
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Regulation for Conservatives : Behavioral Economics and the Case for 'Asymmetric Paternalism'
Camerer, Colin; Issacharoff, Samuel; Loewenstein, George; … - 2010
understand their preferences and work to maximize these preferences. Behavioral economics has gathered increased attention in the …
Persistent link: https://www.econbiz.de/10014086047
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Dynamically Inconsistent Preferences and Money Demand
Millemaci, Emanuele; Waldmann, Robert J. - Centro di Studi Internazionali Sull'Economia e la … - 2008
implies dynamically inconsistent preferences. Second, we calculate an indicator of the degree of dynamic inconsistency that … severely dynamicly inconsistent preferences on average hold a statistically significantly lower share of their total wealth in …
Persistent link: https://www.econbiz.de/10005450639
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An experiment for regulatory policy on broadband speed advertising
Timmons, Shane; McElvaney, Terence J.; Lunn, Pete - 2019
Identifying whether hyperbolic advertising claims influence consumers is important for consumer protection, but differentiating mere "puffery" from misleading advertising is not straightforward. We conducted a pre-registered experiment to determine whether pseudo-technical advertising claims...
Persistent link: https://www.econbiz.de/10012123243
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A needs-based framework for approximating decisions and well-being
Krecik, Markus - 2024
Behavioral economics has so far largely avoided discussing the psychological origins of preferences, as well as their … large amounts of observations for calibration. In this paper, I show how unifying preferences with the psychological concept …. I achieve this by constructing a hierarchical dependency between human motivations and preferences through the language …
Persistent link: https://www.econbiz.de/10014483905