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Valuing future private and social benefits: The discounted utility model versus hyperbolic discounting models

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  • Cairns, John
  • van der Pol, Marjon

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Psychology.

Volume (Year): 21 (2000)
Issue (Month): 2 (April)
Pages: 191-205

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Handle: RePEc:eee:joepsy:v:21:y:2000:i:2:p:191-205

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Web page: http://www.elsevier.com/locate/joep

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References

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  1. John A. Cairns & Marjon M. Van Der Pol, 1997. "Saving future lives. A comparison of three discounting models," Health Economics, John Wiley & Sons, Ltd., vol. 6(4), pages 341-350.
  2. Uri Benzion & Amnon Rapoport & Joseph Yagil, 1989. "Discount Rates Inferred from Decisions: An Experimental Study," Management Science, INFORMS, vol. 35(3), pages 270-284, March.
  3. Cairns, John & Van der Pol, Marjon, 1997. "Constant and decreasing timing aversion for saving lives," Social Science & Medicine, Elsevier, vol. 45(11), pages 1653-1659, December.
  4. Dorte Gyrd-Hansen & Jes S�gaard, 1998. "Discounting life-years: whither time preference?," Health Economics, John Wiley & Sons, Ltd., vol. 7(2), pages 121-127.
  5. Charles M. Harvey, 1986. "Value Functions for Infinite-Period Planning," Management Science, INFORMS, vol. 32(9), pages 1123-1139, September.
  6. Marjorie K. Shelley, 1993. "Outcome Signs, Question Frames and Discount Rates," Management Science, INFORMS, vol. 39(7), pages 806-815, July.
  7. Loewenstein, George & Prelec, Drazen, 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 573-97, May.
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Citations

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Cited by:
  1. Bjarne Robberstad & John Cairns, 2007. "Time Preferences for Health in Northern Tanzania," PharmacoEconomics, Springer, vol. 25(1), pages 73-88, January.
  2. Bruderer Enzler, Heidi & Diekmann, Andreas & Meyer, Reto, 2014. "Subjective discount rates in the general population and their predictive power for energy saving behavior," Energy Policy, Elsevier, vol. 65(C), pages 524-540.
  3. Gowdy, John & Rosser, J. Barkley & Roy, Loraine, 2013. "The evolution of hyperbolic discounting: Implications for truly social valuation of the future," Journal of Economic Behavior & Organization, Elsevier, vol. 90(S), pages S94-S104.
  4. Lippai, László, 2009. "Az intertemporális diszkontálási folyamatok jelentősége a fogyasztói döntésekben
    [The importance of inter-temporal discounting processes to consumer decision-making]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 689-708.
  5. Tatiana Kossova & Elena Kossova & Maria Sheluntcova, 2012. "Estimating the relationship between rate of time preferences and socio-economic factors in Russia," HSE Working papers WP BRP 23/EC/2012, National Research University Higher School of Economics.
  6. Normann, Marcel & Langer, Thomas, 2001. "Altersvorsorge, Konsumwunsch und mangelnde Selbstdisziplin: Zur Relevanz deskriptiver Theorien für die Gestaltung von Altersvorsorgeprodukten," Sonderforschungsbereich 504 Publications 01-40, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
  7. Andrew Meyer, 2013. "Intertemporal Valuation of River Restoration," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 54(1), pages 41-61, January.
  8. Settle, Chad & Shogren, Jason F., 2004. "Hyperbolic discounting and time inconsistency in a native-exotic species conflict," Resource and Energy Economics, Elsevier, vol. 26(2), pages 255-274, June.
  9. Gerber, Anke & Rohde, Kirsten I.M., 2010. "Risk and preference reversals in intertemporal choice," Journal of Economic Behavior & Organization, Elsevier, vol. 76(3), pages 654-668, December.
  10. Liebermann, Yehoshua & Ungar, Meyer, 2002. "Efficiency of consumer intertemporal choice under life cycle cost conditions," Journal of Economic Psychology, Elsevier, vol. 23(6), pages 729-748, December.
  11. Engström, Per & Kolm, Ann-Sofie & Liang, Che-Yuan, 2009. "Maternal-biased parental leave," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 583-590, August.
  12. Kirsten Rohde, 2010. "The hyperbolic factor: A measure of time inconsistency," Journal of Risk and Uncertainty, Springer, vol. 41(2), pages 125-140, October.
  13. Hanks, Andrew S. & Just, David R. & Wansink, Brian, 2012. "Total Lunchroom Makeovers: Using the Principle of Asymmetric Paternalism to Address New School Lunchroom Guidelines," 2012 AAEA/EAAE Food Environment Symposium, May 30-31, Boston, MA 123388, Agricultural and Applied Economics Association.
  14. Huang, Yeu-Shiang & Hsu, Chao-Ze, 2008. "An anticipative hyperbolic discount utility on intertemporal decision making," European Journal of Operational Research, Elsevier, vol. 184(1), pages 281-290, January.
  15. Lazaro, Angelina & Barberan, Ramon & Rubio, Encarnacion, 2002. "The discounted utility model and social preferences:: Some alternative formulations to conventional discounting," Journal of Economic Psychology, Elsevier, vol. 23(3), pages 317-337, June.
  16. Andrew Meyer, 2013. "Estimating discount factors for public and private goods and testing competing discounting hypotheses," Journal of Risk and Uncertainty, Springer, vol. 46(2), pages 133-173, April.
  17. Hubert De La Bruslerie & Florent Pratlong, 2012. "La valeur psychologique du temps : Une synthèse de la littérature," Post-Print halshs-00636357, HAL.

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