Complexity and Hyperbolic Discounting
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Benjamin Enke & Thomas Graeber & Ryan Oprea, 2023. "Complexity and Hyperbolic Discounting," NBER Working Papers 31047, National Bureau of Economic Research, Inc.
References listed on IDEAS
- Benjamin Enke & Cassidy Shubatt, 2023. "Quantifying Lottery Choice Complexity," CESifo Working Paper Series 10644, CESifo.
- Anujit Chakraborty & Evan M. Calford & Guidon Fenig & Yoram Halevy, 2017.
"External and internal consistency of choices made in convex time budgets,"
Experimental Economics, Springer;Economic Science Association, vol. 20(3), pages 687-706, September.
- Calford, Evan & Chakraborty, Anujit & Fenig, Guidon & Halevy, Yoram, 2014. "External and Internal Consistency of Choices made in Convex Time Budgets," Microeconomics.ca working papers yoram_halevy-2014-37, Vancouver School of Economics, revised 09 Jan 2017.
- Benjamin Enke & Cassidy Shubatt, 2023. "Quantifying Lottery Choice Complexity," NBER Working Papers 31677, National Bureau of Economic Research, Inc.
- Ferdinand M. Vieider, 2021. "Noisy coding of time and reward discounting," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 21/1036, Ghent University, Faculty of Economics and Business Administration.
- Marzilli Ericson, K. M. & White, J. M. & Laibson, David I. & Cohen, J. D., 2015. "Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better Than Delay Discounting Does," Scholarly Articles 30367415, Harvard University Department of Economics.
- Matthias Sutter & Martin G. Kocher & Daniela Glätzle-Rützler & Stefan T. Trautmann, 2013.
"Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior,"
American Economic Review, American Economic Association, vol. 103(1), pages 510-531, February.
- Matthias Sutter & Martin G. Kocher & Daniela Glätzle-Rützler & Stefan T. Trautmann, 2010. "Impatience and uncertainty: Experimental decisions predict adolescents' field behavior," Working Papers 2010-29, Faculty of Economics and Statistics, Universität Innsbruck.
- Matthias Sutter & Martin G. Kocher & Daniela Rützler & Stefan T. Trautmann, 2011. "Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior," CESifo Working Paper Series 3635, CESifo.
- Sutter, Matthias & Kocher, Martin G. & Rützler, Daniela & Trautmann, Stefan T., 2010. "Impatience and Uncertainty: Experimental Decisions Predict Adolecents' Field Behavior," Discussion Papers in Economics 12114, University of Munich, Department of Economics.
- Rützler, Daniela & Sutter, Matthias & Kocher, Martin G. & Trautmann, Stefan T., 2011. "Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior," VfS Annual Conference 2011 (Frankfurt, Main): The Order of the World Economy - Lessons from the Crisis 48720, Verein für Socialpolitik / German Economic Association.
- Sutter, Matthias & Kocher, Martin G. & Glätzle-Rützler, Daniela & Trautmann, Stefan T., 2010. "Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior," IZA Discussion Papers 5404, Institute of Labor Economics (IZA).
- Sutter, Matthias & Kocher, Martin G. & Daniela, G.-R. & Trautmann, Stefan T., 2013. "Impatience and uncertainty: Experimental decisions predict adolescents' field behavior," Munich Reprints in Economics 18223, University of Munich, Department of Economics.
- Uttara Balakrishnan & Johannes Haushofer & Pamela Jakiela, 2020.
"How soon is now? Evidence of present bias from convex time budget experiments,"
Experimental Economics, Springer;Economic Science Association, vol. 23(2), pages 294-321, June.
- Balakrishnan, Uttara & Haushofer, Johannes & Jakiela, Pamela, 2016. "How Soon Is Now? Evidence of Present Bias from Convex Time Budget Experiments," IZA Discussion Papers 9653, Institute of Labor Economics (IZA).
- Uttara Balakrishnan & Johannes Haushofer & Pamela Jakiela, 2017. "How Soon Is Now? Evidence of Present Bias from Convex Time Budget Experiments," NBER Working Papers 23558, National Bureau of Economic Research, Inc.
- Keith M. Ericson & John Myles White & David Laibson & Jonathan D. Cohen, 2015. "Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better than Delay Discounting," NBER Working Papers 20948, National Bureau of Economic Research, Inc.
- Samuel J. Gershman & Rahul Bhui, 2020. "Rationally inattentive intertemporal choice," Nature Communications, Nature, vol. 11(1), pages 1-8, December.
- Ariel Rubinstein, 2003. ""Economics and Psychology"? The Case of Hyperbolic Discounting," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(4), pages 1207-1216, November.
- Joshua Blumenstock & Michael Callen & Tarek Ghani, 2018.
"Why Do Defaults Affect Behavior? Experimental Evidence from Afghanistan,"
American Economic Review, American Economic Association, vol. 108(10), pages 2868-2901, October.
- Joshua Blumenstock & Michael Callen & Tarek Ghani, 2017. "Why Do Defaults Affect Behavior? Experimental Evidence from Afghanistan," NBER Working Papers 23590, National Bureau of Economic Research, Inc.
- Blumenstock, Joshua & Callen, Mike & Ghani, Tarek, 2018. "Why do defaults affect behavior? Experimental evidence from Afghanistan," LSE Research Online Documents on Economics 102899, London School of Economics and Political Science, LSE Library.
- Callen, Michael & Blumenstock, Joshua & Ghani, Tarek, 2017. "Why Do Defaults Affect Behavior? Experimental Evidence from Afghanistan," CEPR Discussion Papers 12142, C.E.P.R. Discussion Papers.
- Gopi Shah Goda & Matthew R. Levy & Colleen Flaherty Manchester & Aaron Sojourner & Joshua Tasoff, 2015. "The Role of Time Preferences and Exponential-Growth Bias in Retirement Savings," NBER Working Papers 21482, National Bureau of Economic Research, Inc.
- Uwe Sunde & Thomas Dohmen & Benjamin Enke & Armin Falkbriq & David Huffman & Gerrit Meyerheim, 2022.
"Patience and Comparative Development,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(5), pages 2806-2840.
- Uwe Sunde & Thomas Dohmen & Benjamin Enke & Armin Falk & David Huffman, 2020. "Patience and Comparative Development," ECONtribute Discussion Papers Series 035, University of Bonn and University of Cologne, Germany.
- Uwe Sunde & Thomas Dohmen & Benjamin Enke & Armin Falk & David Huffman & Gerrit Meyerheim, 2023. "Patience and Comparative Development," CRC TR 224 Discussion Paper Series crctr224_2023_293v2, University of Bonn and University of Mannheim, Germany.
- Sunde, Uwe & Dohmen, Thomas & Enke, Benjamin & Falk, Armin & Huffmann, David & Meyerheim, Gerrit, 2021. "Patience and Comparative Development," Rationality and Competition Discussion Paper Series 292, CRC TRR 190 Rationality and Competition.
- Cary Frydman & Lawrence J. Jin, 2023. "On the Source and Instability of Probability Weighting," NBER Working Papers 31573, National Bureau of Economic Research, Inc.
- George Loewenstein & Drazen Prelec, 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 573-597.
- Marco Castillo & Jeffrey L Jordan & Ragan Petrie, 2019. "Discount Rates of Children and High School Graduation," The Economic Journal, Royal Economic Society, vol. 129(619), pages 1153-1181.
- Daniel Read & Shane Frederick & Burcu Orsel & Juwaria Rahman, 2005. "Four Score and Seven Years from Now: The Date/Delay Effect in Temporal Discounting," Management Science, INFORMS, vol. 51(9), pages 1326-1335, September.
- Lu, Jay & Saito, Kota, 2018. "Random intertemporal choice," Journal of Economic Theory, Elsevier, vol. 177(C), pages 780-815.
- Victor Stango & Jonathan Zinman, 2009. "Exponential Growth Bias and Household Finance," Journal of Finance, American Finance Association, vol. 64(6), pages 2807-2849, December.
- David Laibson, 1997.
"Golden Eggs and Hyperbolic Discounting,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
- Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
- Mariana Carrera & Heather Royer & Mark Stehr & Justin Sydnor & Dmitry Taubinsky, 2022.
"Who Chooses Commitment? Evidence and Welfare Implications,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(3), pages 1205-1244.
- Mariana Carrera & Heather Royer & Mark Stehr & Justin Sydnor & Dmitry Taubinsky, 2019. "Who Chooses Commitment? Evidence and Welfare Implications," NBER Working Papers 26161, National Bureau of Economic Research, Inc.
- James Andreoni & Christina Gravert & Michael A. Kuhn & Silvia Saccardo & Yang Yang, 2018. "Arbitrage Or Narrow Bracketing? On Using Money to Measure Intertemporal Preferences," NBER Working Papers 25232, National Bureau of Economic Research, Inc.
- Abdellaoui, Mohammed & Kemel, Emmanuel & Panin, Amma & Vieider, Ferdinand M., 2023. "Time for Tea: Measuring Discounting for Money and Consumption without the Utility Confound," LIDAM Discussion Papers CORE 2023007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Daniel Read & Christopher Y. Olivola & David J. Hardisty, 2017. "The Value of Nothing: Asymmetric Attention to Opportunity Costs Drives Intertemporal Decision Making," Management Science, INFORMS, vol. 63(12), pages 4277-4297, December.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Thomas Graeber & Shakked Noy & Christopher Roth, 2024.
"Lost in Transmission,"
ECONtribute Discussion Papers Series
272, University of Bonn and University of Cologne, Germany.
- Graeber, Thomas W & Noy, Shakked & Roth, Christopher, 2024. "Lost in Transmission," IZA Discussion Papers 16736, Institute of Labor Economics (IZA).
- Thomas Graeber & Shakked Noy & Christopher Roth & Thomas W. Graeber, 2024. "Lost in Transmission," CESifo Working Paper Series 10903, CESifo.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Benjamin Enke & Thomas Graeber & Ryan Oprea, 2023. "Complexity and Time," CESifo Working Paper Series 10327, CESifo.
- Faralla, Valeria & Novarese, Marco & Ardizzone, Antonella, 2017. "Framing Effects in Intertemporal Choice: A Nudge Experiment," MPRA Paper 82086, University Library of Munich, Germany.
- Stephen L. Cheung & Agnieszka Tymula & Xueting Wang, 2022. "Present bias for monetary and dietary rewards," Experimental Economics, Springer;Economic Science Association, vol. 25(4), pages 1202-1233, September.
- Pablo Brañas-Garza & Diego Jorrat & Antonio M. Espín & Angel Sánchez, 2023.
"Paid and hypothetical time preferences are the same: lab, field and online evidence,"
Experimental Economics, Springer;Economic Science Association, vol. 26(2), pages 412-434, April.
- Brañas-Garza, Pablo & Jorrat, Diego & Espín, Antonio M. & Sanchez, Angel, 2020. "Paid and hypothetical time preferences are the same: Lab, field and online evidence," MPRA Paper 103660, University Library of Munich, Germany.
- Pablo Brañas-Garza & Diego Jorrat & Antonio Espín & Angel Sánchez, 2021. "Paid and hypothetical time preferences are the same: Lab, field and online evidence," Working Papers 54, Red Nacional de Investigadores en Economía (RedNIE).
- repec:cup:judgdm:v:16:y:2021:i:6:p:1324-1369 is not listed on IDEAS
- Benjamin Enke & Thomas W. Graeber, 2021. "Cognitive Uncertainty in Intertemporal Choice," CESifo Working Paper Series 9472, CESifo.
- Ali al-Nowaihi & Sanjit Dhami, 2018. "Foundations for Intertemporal Choice," CESifo Working Paper Series 6913, CESifo.
- Dohmen, Thomas & Falk, Armin & Huffman, David B. & Sunde, Uwe, 2012.
"Interpreting Time Horizon Effects in Inter-Temporal Choice,"
IZA Discussion Papers
6385, Institute of Labor Economics (IZA).
- Thomas Dohmen & Armin Falk & David Huffman & Uwe Sunde, 2012. "Interpreting Time Horizon Effects in Inter-Temporal Choice," CESifo Working Paper Series 3750, CESifo.
- Ali al-Nowaihi & Sanjit Dhami, 2021. "Preferences over Time and under Uncertainty: Theoretical Foundations," CESifo Working Paper Series 9215, CESifo.
- Sudeep Bhatia & Graham Loomes & Daniel Read, 2021. "Establishing the laws of preferential choice behavior," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 16(6), pages 1324-1369, November.
- Inhwa Kim & Keith J. Gamble, 2022. "Too much or too little information: how unknown uncertainty fuels time inconsistency," SN Business & Economics, Springer, vol. 2(2), pages 1-33, February.
- Akin, Zafer & Yavas, Abdullah, 2023. "Elicited Time Preferences and Behavior in Long-Run Projects," MPRA Paper 117133, University Library of Munich, Germany.
- Backes-Gellner, Uschi & Herz, Holger & Kosfeld, Michael & Oswald, Yvonne, 2021.
"Do preferences and biases predict life outcomes? Evidence from education and labor market entry decisions,"
European Economic Review, Elsevier, vol. 134(C).
- Backes-Gellner, Uschi & Herz, Holger & Kosfeld, Michael & Oswald, Yvonne, 2018. "Do Preferences and Biases Predict Life Outcomes? Evidence from Education and Labor Market Entry Decisions," IZA Discussion Papers 11288, Institute of Labor Economics (IZA).
- Uschi Backes-Gellner & Holger Herz & Michael Kosfeld & Yvonne Oswald, 2018. "Do Preferences and Biases Predict Life Outcomes? Evidence from Education and Labor Market Entry Decisions," CESifo Working Paper Series 6863, CESifo.
- Kosfeld, Michael & Herz, Holger & Oswald, Yvonne & Backes-Gellner, Uschi, 2018. "Do Preferences and Biases predict Life Outcomes? Evidence from Education and Labor Market Entry Decisions," CEPR Discussion Papers 12609, C.E.P.R. Discussion Papers.
- Uschi Backes-Gellner & Holger Herz & Michael Kosfeld & Yvonne Oswald, 2018. "Do Preferences and Biases predict Life Outcomes? Evidence from Education and Labor Market Entry Decisions," Economics of Education Working Paper Series 0144, University of Zurich, Department of Business Administration (IBW), revised Mar 2021.
- Felix Koelle & Lukas Wenner, 2018. "Present-Biased Generosity: Time Inconsistency across Individual and Social Contexts," Discussion Papers 2018-02, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Christian König-Kersting & Stefan T. Trautmann, 2023. "Grit, Discounting, & Time Inconsistency," Working Papers 2023-12, Faculty of Economics and Statistics, Universität Innsbruck.
- Kuroishi, Yusuke & Sawada, Yasuyuki, 2024.
"On the stability of preferences: Experimental evidence from two disasters,"
European Economic Review, Elsevier, vol. 161(C).
- Yusuke Kuroishi & Yasuyuki Sawada, 2019. "On the Stability of Preferences:Experimental Evidence from Two Disasters," CIRJE F-Series CIRJE-F-1130, CIRJE, Faculty of Economics, University of Tokyo.
- Orlando Gomes & Alexandra Ferreira-Lopes & Tiago Sequeira, 2014.
"Exponential discounting bias,"
Journal of Economics, Springer, vol. 113(1), pages 31-57, September.
- Orlando Gomes & Alexandra Ferreira-Lopes & Tiago Neves Sequeira, 2012. "Exponential Discounting Bias," Working Papers Series 2 12-05, ISCTE-IUL, Business Research Unit (BRU-IUL).
- Scholten, Marc & Read, Daniel, 2006. "Beyond discounting: the tradeoff model of intertemporal choice," LSE Research Online Documents on Economics 22710, London School of Economics and Political Science, LSE Library.
- Stephen L. Cheung & Kieran MacGibbon & Arquette Milin-Byrne & Agnieszka Tymula, 2024. "Quasi-exponential discounting," Working Papers 2024-16, University of Sydney, School of Economics.
- Alex Imas & Michael A. Kuhn & Vera Mironova, 2022.
"Waiting to Choose: The Role of Deliberation in Intertemporal Choice,"
American Economic Journal: Microeconomics, American Economic Association, vol. 14(3), pages 414-440, August.
- Alex Imas & Michael A. Kuhn & Vera Mironova, 2016. "Waiting to Choose: The Role of Deliberation in Intertemporal Choice," CESifo Working Paper Series 6162, CESifo.
- Cheung, Stephen L. & Tymula, Agnieszka & Wang, Xueting, 2021. "Quasi-Hyperbolic Present Bias: A Meta-Analysis," IZA Discussion Papers 14625, Institute of Labor Economics (IZA).
More about this item
Keywords
hyperbolic discounting; present bias; bounded rationality; cognitive uncertainty;All these keywords.
JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
- G00 - Financial Economics - - General - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBE-2024-02-26 (Cognitive and Behavioural Economics)
- NEP-DEM-2024-02-26 (Demographic Economics)
- NEP-EXP-2024-02-26 (Experimental Economics)
- NEP-NEU-2024-02-26 (Neuroeconomics)
- NEP-UPT-2024-02-26 (Utility Models and Prospect Theory)
Statistics
Access and download statisticsCorrections
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:ces:ceswps:_10861. See general information about how to correct material in RePEc.
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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/cesifde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.