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Erschienen in:
The Paradox of Self-Destructive Choices Kapitel lesen Erstes Kapitel lesen

2016 | OriginalPaper | Buchkapitel

3. Hyperbolic Discounting and Self-Destructive Behaviors

verfasst von : Shinsuke Ikeda

Erschienen in: The Economics of Self-Destructive Choices

Verlag: Springer Japan

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Abstract

In the previous chapter, I explained that people’s degrees of impatience are affected by various choice conditions and frames, all of which cause a variety of anomalous phenomena in their intertemporal choices and behaviors that traditional economics cannot explain. In this chapter, I shall deal with hyperbolic discounting or present bias. As explained in Chap. 1, under hyperbolic discounting, more immediate gratifications are discounted at higher discount rates, and people are less patient in waiting for less delayed rewards.

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Vorheriges Kapitel Varying Impatience
Nächstes Kapitel Self-Control Problems of the Dual Self
Fußnoten
1
For two alternative rewards A and B with different magnitudes R A , R B and different delays T A , T B , a simple version of the matching law describes relative preferences for A over B, V A /V B , as \( {V}_A/{V}_B=K{R}_A\ {T}_B/\left({R}_B\ {T}_A\right) \), where K is a positive constant.
 
2
The issue of psychological or subjective time has been attracting the attention of economists. For example, Samuelson (1976) proposed axiomatic conditions for the existence of subjective time. Uzawa (1968) constructed consumers’ subjective time from the personal discount rate. Sato and Ramachandran (2014, Chap. 8) and Sato (2015) explained a downward trend of Japan’s income-wealth ratio after World War II by hypothesizing that the subjective time of the Japanese people expanded during the period.
 
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Metadaten
Titel
Hyperbolic Discounting and Self-Destructive Behaviors
verfasst von
Shinsuke Ikeda
Copyright-Jahr
2016
Verlag
Springer Japan
Buch
The Economics of Self-Destructive Choices

Print ISBN: 978-4-431-55792-0

Electronic ISBN: 978-4-431-55793-7

Copyright-Jahr: 2016

DOI
https://doi.org/10.1007/978-4-431-55793-7_3

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