intertemporal choice

Intertemporal choice is defined as "decisions with consequences that play out over time".

Behavioral economics has also been applied to intertemporal choice.

Intertemporal choice research studies the expected utility that humans assign to events occurring at different times.

Similarities between humans and non-human animals in intertemporal choice have been studied.

Much of the recent work on intertemporal choice indicates that discounting is a constructed preference.

Intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time.

Instead, households and candidates are offering two different lessons in how people can trip themselves up when they face what economists call "intertemporal choice."

In a competitive market, each agent makes intertemporal choices in a stochastic environment.

People who score high are less vulnerable to various biases in thinking including prospect theory and irrational intertemporal choices.

The article so far has considered cases where individuals make intertemporal choices by considering the present discounted value of their consumption and income.

Loewenstein is especially known for his work regarding intertemporal choice and affective forecasting.

The Keynesian model therefore failed to explain the consumption phenomenon and thus emerged the theory of intertemporal choice.

In addition to neurotransmitters, intertemporal choice is also modulated by hormones in the brain.

His research focuses on macroeconomics, intertemporal choice, behavioral economics and neuroeconomics.

Some prominent researchers question whether discounting, the major parameter of intertemporal choice, actually describes what people do when they make choices with future consequences.

The concept of Walrasian Equilibrium may also be extended to incorporate intertemporal choice.

Irving Fisher developed the theory of intertemporal choice in his book Theory of interest (1930).

DU has been used to describe how people actually make intertemporal choices and it has been used as a tool for public policy.

He was also a pioneer in the rigorous study of intertemporal choice in markets, which led him to develop a theory of capital and interest rates.

For example, the neurotransmitter serotonin seems to be involved in making decisions involving intertemporal choice while dopamine is utilized when individuals make judgments involving uncertainty.

One facet of intertemporal choice is the possibility for preference reversal, when a tempting reward becomes more highly valued than abstaining only when immediately available.

Another study by Yan Sun and Su Li looked at the intertemporal choices that Chinese participants made.

Intertemporal choice was introduced by John Rae in 1834 in the "Sociological Theory of Capital".

In addition to risk preference, another central concept in economics is intertemporal choices which are decisions that involve costs and benefits that are distributed over time.

Similar to EU in explaining risky decision making, DU is inadequate in explaining intertemporal choice.