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How Far Ahead Do People Plan?

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Author Info
John D Hey () (LUISS, Italy and University of York UK)
Julia Knoll () (Heinrich-Heine-Universität Düsseldorf)

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Abstract

We report on an experiment which enables us to infer how far people plan ahead when taking decisions in a dynamic risky context. Just over half of the subjects plan fully, while the rest do not plan ahead at all.

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Publisher Info
Paper provided by MIUR Project on Dynamic Decision Making in its series MIUR Dynamic Decision Making Project Working Papers with number 2_07.

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Date of creation: May 2007
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Handle: RePEc:miu:wpaper:2_07

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Related research
Keywords: planning; dominance; myopia; naivety; sophistication;

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Find related papers by JEL classification:
D9 - Microeconomics - - Intertemporal Choice and Growth
C9 - Mathematical and Quantitative Methods - - Design of Experiments

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. John D. Hey, 2002. "Experimental Economics and the Theory of Decision Making Under Risk and Uncertainty," The Geneva Risk and Insurance Review, Palgrave Macmillan Journals, vol. 27(1), pages 5-21, June. [Downloadable!] (restricted)
  2. Enrica Carbone & John Hey, . "A Test of the Principle of Optimality," Discussion Papers 99/9, Department of Economics, University of York. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Christian Lukas & Jens Robert Schöndube, 2008. "Trust and Adaptive Learning in Implicit Contracts," FEMM Working Papers 08017, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management. [Downloadable!]
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This page was last updated on 2009-12-2.

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