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Do people plan ahead?

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  • John D. Bone
  • John D. Hey
  • John R. Suckling

Abstract

A crucial basic assumption of economic theories of dynamic behaviour is that people plan ahead. This paper reports on an extremely simple experimental test of this fundamental principle. Indeed the experiment is so simple and so straightforward that it is difficult to believe that anyone would not plan ahead. However subjects are found who do not. What are they doing?

Suggested Citation

  • John D. Bone & John D. Hey & John R. Suckling, 2003. "Do people plan ahead?," Applied Economics Letters, Taylor & Francis Journals, vol. 10(5), pages 277-280, April.
  • Handle: RePEc:taf:apeclt:v:10:y:2003:i:5:p:277-280
    DOI: 10.1080/1350485032000056882
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    File URL: http://hdl.handle.net/10.1080/1350485032000056882
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    Citations

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    Cited by:

    1. Anna Conte & M. Levati, 2014. "Use of data on planned contributions and stated beliefs in the measurement of social preferences," Theory and Decision, Springer, vol. 76(2), pages 201-223, February.
    2. Anna Conte & Peter G. Moffatt & Fabrizio Botti & Daniela T. Di Cagno & Carlo D’Ippoliti, 2012. "A test of the rational expectations hypothesis using data from a natural experiment," Applied Economics, Taylor & Francis Journals, vol. 44(35), pages 4661-4678, December.
    3. John D. Hey & Julia A. Knoll, 2018. "How far ahead do people plan?," World Scientific Book Chapters,in: Experiments in Economics Decision Making and Markets, chapter 12, pages 301-306 World Scientific Publishing Co. Pte. Ltd..
    4. John Bone & John Hey & John Suckling, 2009. "Do people plan?," Experimental Economics, Springer;Economic Science Association, vol. 12(1), pages 12-25, March.
    5. M. I. Lau & T. Neugebauer & U. Schmidt, 2014. "Preface," Theory and Decision, Springer, vol. 77(3), pages 287-290, October.

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