IDEAS home Printed from https://ideas.repec.org/a/cai/repdal/redp_203_0453.html
   My bibliography  Save this article

Un désir d'épargne... inassouvi. Essai sur les conséquences de l'escompte quasi-hyperbolique

Author

Listed:
  • Rodrigue Mendez

Abstract

This survey investigates the conséquences of the introduction of quasi-hyperbolic discounting (QHD) in a life-cycle model. QHD is the result of a behavioral bias (intertemporal préférences change over time) and a perception bias (the belief that the first bias is temporary). The first bias lead to suboptimal savings and excessive short-term indebtedness. The second to time inconsistency. We show how QHD can be used to explain the recent dynamics of savings and debt, which leads to a new assessment of the impact of financial deregulation. We also show how opportunistic financial agents can use the behavioral and perception biases to set up “dutch books”. We introduce the libertarian paternalism doctrine of Thaler, Camerer and Rabin, whose aim is to reconcile two apparently irréconciliable goals : protection and freedom of choice.

Suggested Citation

  • Rodrigue Mendez, 2010. "Un désir d'épargne... inassouvi. Essai sur les conséquences de l'escompte quasi-hyperbolique," Revue d'économie politique, Dalloz, vol. 120(3), pages 453-486.
  • Handle: RePEc:cai:repdal:redp_203_0453
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=REDP_203_0453
    Download Restriction: free

    File URL: http://www.cairn.info/revue-d-economie-politique-2010-3-page-453.htm
    Download Restriction: free

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:repdal:redp_203_0453. 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: (Jean-Baptiste de Vathaire). General contact details of provider: http://www.cairn.info/revue-d-economie-politique.htm .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.