Analysis of Intertemporal Choice: A New Framework and Experimental Results

Theory and Decision 55 (3):209-233 (2003)
Abstract
This paper reports the results of a series of experiments examining intertemporal choice. The paper makes three contributions: First, it presents a new analytic device, the intertemporal choice triangle, which is analogous to the Marschak--Machina choice triangle used in the analysis of choice under risk. Second, we have developed a new experimental design based on the intertemporal choice triangle which allows subjects greater flexibility in making choices, and which allows the researcher to make more subtle inferences, than are possible with designs previously employed. Subjects are able to create their most-preferred outcome in each choice situation by choosing a constrained linear combination of two extreme options. Third, our results show that while subjects do not typically maximize present value, they are significantly influenced break by present value considerations. We refer to this finding as it present value-seeking behavior. We find only weak evidence of several previously documented intertemporal choice anomalies in our framework
Keywords No keywords specified (fix it)
Categories No categories specified
(categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 11,361
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Citations of this work BETA

No citations found.

Similar books and articles
Marcel Weber (2011). Experimentation Versus Theory Choice: A Social-Epistemological Approach. In Hans Bernhard Schmid, Daniel Sirtes & Marcel Weber (eds.), Collective Epistemology. Ontos. 20--203.
Richard Holton (2006). The Act of Choice. Philosophers' Imprint 6 (3):1-15.
Ludwig von Auer (1999). Dynamic Choice Mechanisms. Theory and Decision 46 (3):295-312.
Andreas Blass & Yuri Gurevich (2000). The Logic of Choice. Journal of Symbolic Logic 65 (3):1264-1310.
Analytics

Monthly downloads

Added to index

2010-09-02

Total downloads

6 ( #206,643 of 1,102,700 )

Recent downloads (6 months)

3 ( #120,386 of 1,102,700 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.