Abstract
This chapter reviews both the theoretical modeling and the experimental evidence, relating to choice over time. Most of the space is devoted to choices between outcome-date pairs, which has been better studied, especially experimentally, but it also discusses choices between time sequences of outcomes. It distinguishes between "soft anomalies", which can be accommodated by a simple modification of the standard exponential discounting model (e.g. hyperbolic discounting) and "hard anomalies" which pose a more fundamental challenge.
| Original language | English |
|---|---|
| Title of host publication | The Handbook of Rational and Social Choice |
| Publisher | Oxford: Oxford University Press |
| Volume | 9780199290420 |
| ISBN (Electronic) | 9780191710506 |
| ISBN (Print) | 9780199290420 |
| DOIs | |
| Publication status | Published - 1 May 2009 |
Bibliographical note
Publisher Copyright:© Oxford University Press, 2009. All rights reserved.
Copyright:
Copyright 2018 Elsevier B.V., All rights reserved.
Keywords
- Discounting models
- Experimental evidence
- Hard annomalies
- Hyperbolic discounting
- Soft anomalies
- Time