Results 291 to 300 of about 284,026 (327)

Obesity and Hyperbolic Discounting: An Experimental Analysis

2010
Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior.
Richards, Timothy J., Hamilton, Stephen F., Pofahl, Geoffrey M.   +2 more
openaire   +4 more sources

The Porter Hypothesis and Hyperbolic Discounting [PDF]

Economics Bulletin, 2010
We examine pollution-reducing R&D by a monopoly firm producing a dirty product. In a dynamic framework with hyperbolic discounting, we establish conditions under which the Porter hypothesis goes through, i.e. environmental regulation increases R&D, thus reducing pollution, as well as increasing firm profits.
openaire   +3 more sources

Rationalizing hyperbolic discounting

Journal of Economic Behavior & Organization, 1999
Abstract We show that if agents are uncertain about their discount rates it may be rational for them to discount the distant future hyperbolically rather than exponentially. Our findings thus may rationalize a common observation in experimental work, which indicates that people discount the future at hyperbolic rates.
openaire   +1 more source

A theory of intermediated investment with hyperbolic discounting investors

Journal of Economics Theory, 2018
Financial intermediaries may reduce welfare losses caused by hyperbolic discounting investors, who may liquidate their investment prematurely when the liquidation cost is low.
Feng Gao, A. He, P. He
semanticscholar   +1 more source

Quasi-Hyperbolic Discounting and the Save More Tomorrow Program

Social Science Research Network, 2019
The Save More Tomorrow (SMarT) program of Thaler and Benartzi (2004) has been pointed to as an example of how insights from behavioral finance can be utilized to help households become better prepared for retirement.
T. Findley, Erin Cottle Hunt
semanticscholar   +1 more source

Managerial compensation with hyperbolic discounting

, 2019
This paper characterizes the optimal performance-based compensation plan for alignment by incorporating time inconsistent preferences. When investment payoffs are given in flow terms, the presence of time-inconsistency enhances the fraction of the cash ...
Yingjie Niu, Linfeng He, Wei Wu
semanticscholar   +1 more source

Quasi-hyperbolic discounting

2010
Time preferences are at the very core of every intertemporal decision models. However, most economic models equate time preferences exponential discounting. The first part of the present thesis gives an axiomatic derivation of time preferences in general, reviews selected types of alternatives to exponential discounting and assesses their empirical ...
openaire   +1 more source

PORTFOLIO SELECTION WITH HYPERBOLIC DISCOUNTING AND INFLATION RISK

, 2021
Byung Hwa Lim
semanticscholar   +1 more source

A Meta-Analysis of Quasi-Hyperbolic Discounting

Management Science
This paper reports a meta-analysis of 86 studies of the two parameters of quasi-hyperbolic ([Formula: see text]) discounting, the dominant model of self-control failures in behavioral economics. The central tenet of the model is that decision makers have a “present bias,” [Formula: see text], for immediate rewards, on top of standard exponential ...
Stephen L. Cheung, Agnieszka Tymula, Xueting Wang   +2 more
openaire   +1 more source

Discounting of delayed rewards is not hyperbolic.

Journal of Experimental Psychology: Learning, Memory, and Cognition, 2013
Delay discounting refers to decision-makers' tendency to value immediately available goods more than identical goods available only after some delay. In violation of standard economic theory, decision-makers frequently exhibit dynamic inconsistency; their preferences change simply due to the passage of time.
openaire   +2 more sources