Choice over Time

Paola Manzini; Marco Mariotti

doi:10.1093/acprof:oso/9780199290420.003.0011

Choice over Time

Paola Manzini^*
, Marco Mariotti

^*Corresponding author for this work

School of Economics

Research output: Chapter in Book/Report/Conference proceeding › Chapter in a book

9 Citations (Scopus)

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	https://doi.org/10.1093/acprof:oso/9780199290420.003.0011
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

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10.1093/acprof:oso/9780199290420.003.0011

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AB - 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.

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KW - Experimental evidence

KW - Hard annomalies

KW - Hyperbolic discounting

KW - Soft anomalies

KW - Time

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M3 - Chapter in a book

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BT - The Handbook of Rational and Social Choice

PB - Oxford: Oxford University Press

ER -

Choice over Time

Abstract

Bibliographical note

Keywords

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