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Discounting by intervals: An inconsistent theory of intertemporal choice?

Author

Listed:
  • Ali al-Nowaihi
  • Sanjit Dhami

Abstract

We show that the theory developed in Scholten and Read (2006) “Discounting by Intervals: A Generalized Model of Intertemporal Choice”, Management Science, 52, 1424-1436, is an inconsistent theory. We suggest a way the inconsistency can be removed.

Suggested Citation

  • Ali al-Nowaihi & Sanjit Dhami, 2008. "Discounting by intervals: An inconsistent theory of intertemporal choice?," Discussion Papers in Economics 08/10, Division of Economics, School of Business, University of Leicester.
    • Handle: RePEc:lec:leecon:08/10
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    File URL: https://www.le.ac.uk/economics/research/RePEc/lec/leecon/dp08-10.pdf
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    Cited by:

    1. Svetlana Makarova, 2014. "Risk and Uncertainty: Macroeconomic Perspective," UCL SSEES Economics and Business working paper series 129, UCL School of Slavonic and East European Studies (SSEES).

    More about this item

    Keywords

    Intertemporal choice; non-additive time discounting;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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