Advanced Search
MyIDEAS: Login to save this article or follow this journal

Preferences Over Temporal Frames In Dynamic Decision Problems: An Experimental Investigation

Contents:

Author Info

  • JOHN D. HEY
  • MASSIMO PARADISO

Abstract

This paper reports the results of an experimental investigation into people's evaluations of choice problems that are strategically equivalent, but differ in respect of their temporal framings. We elicit individual valuations for three strategically equivalent choice problems, which differ in terms of their framing and the timing of the decision. This allows us to begin to understand how people view dynamic decision problems and how they tackle them. This research is complementary to earlier experimental work of others, which suggests that the temporal frame of a dynamic decision problem may well influence the decisions that are taken. We show that the framing affects also some people's evaluation of the problem. We combine these findings with the earlier findings to relate the two issues: the evaluations and the decisions. This helps us get some insight into the thought processes of dynamically inconsistent people. Copyright Blackwell Publishing Ltd and The University of Manchester, 2006.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9957.2006.00484.x
File Function: link to full text
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by University of Manchester in its journal The Manchester School.

Volume (Year): 74 (2006)
Issue (Month): 2 (03)
Pages: 123-137

as in new window
Handle: RePEc:bla:manchs:v:74:y:2006:i:2:p:123-137

Contact details of provider:
Postal: Manchester M13 9PL
Phone: (0)161 275 4868
Fax: (0)161 275 4812
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1463-6786
More information through EDIRC

Order Information:
Web: http://www.blackwellpublishing.com/subs.asp?ref=1463-6786

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. John Hey & Gianna Lotito, 2009. "Naive, resolute or sophisticated? A study of dynamic decision making," Journal of Risk and Uncertainty, Springer, vol. 38(1), pages 1-25, February.
  2. John Hey & Luca Panaccione, 2011. "Dynamic decision making: what do people do?," Journal of Risk and Uncertainty, Springer, vol. 42(2), pages 85-123, April.
  3. Hammond, Peter J & Zank, Horst, 2013. "Rationality and Dynamic Consistency under Risk and Uncertainty," The Warwick Economics Research Paper Series (TWERPS) 1033, University of Warwick, Department of Economics.
  4. Enrica Carbone & Gerardo Infante, 2012. "The Effect of a Short Planning Horizon on Intertemporal Consumption Choices," Labsi Experimental Economics Laboratory University of Siena 043, University of Siena.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:bla:manchs:v:74:y:2006:i:2:p:123-137. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.