A vague theory of choice over time

Paola Manzini*, Marco Mariotti

*Corresponding author for this work

Research output: Contribution to journalArticle (Academic Journal)peer-review

10 Citations (Scopus)

Abstract

We propose a novel approach to modelling time preferences, based on a cognitive shortcoming of human decision makers: the perception of future events becomes increasingly 'blurred' as the events are pushed further in time. Our model explains behavioural 'anomalies' such as preference reversal and cyclical choice.

Original languageEnglish
JournalAdvances in Theoretical Economics
Volume6
Issue number1
DOIs
Publication statusPublished - 2006

Bibliographical note

Copyright:
Copyright 2018 Elsevier B.V., All rights reserved.

Keywords

  • Cycles
  • Hyperbolic discounting
  • Intransitive preferences
  • Preference reversal
  • Time preferences

Fingerprint Dive into the research topics of 'A vague theory of choice over time'. Together they form a unique fingerprint.

Cite this