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Delay Aversion

Author

Listed:
  • Jean-Pierre Benoît

    (Economics New York University)

  • Efe OK

Abstract

We address the following question: When can one person properly be said to be more delay averse than another? In reply, several (nested) comparison methods are developed. These methods yield a theory of delay aversion which parallels that of risk aversion. The applied strength of this theory is demonstrated in a variety of dynamic economic settings, including the classical optimal growth and tree cutting problems, repeated games, and bargaining. Both time-consistent and time-inconsistent scenarios are considered.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Jean-Pierre Benoît & Efe OK, 2005. "Delay Aversion," 2005 Meeting Papers 752, Society for Economic Dynamics.
  • Handle: RePEc:red:sed005:752
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    File URL: https://www.economicdynamics.org/meetpapers/2005/paper_752.pdf
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    References listed on IDEAS

    as
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    Citations

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    Cited by:

    1. Bastianello, Lorenzo & Chateauneuf, Alain, 2016. "About delay aversion," Journal of Mathematical Economics, Elsevier, vol. 63(C), pages 62-77.
    2. Jinrui Pan & Craig Webb & Horst Zank, 2013. "Discounting the Subjective Present and Future," Economics Discussion Paper Series 1305, Economics, The University of Manchester.
    3. Bastianello, Lorenzo, 2017. "A topological approach to delay aversion," Journal of Mathematical Economics, Elsevier, vol. 73(C), pages 1-12.
    4. Banerjee, Kuntal & Dubey, Ram, 2011. "Impatience for Weakly Paretian Orders: Existence and Genericity," Working Papers 2011-03, Department of Economics, Colgate University.
    5. Manzini, Paola & Mariotti, Marco, 2007. "Choice Over Time," IZA Discussion Papers 2993, Institute of Labor Economics (IZA).
    6. repec:ipg:wpaper:30 is not listed on IDEAS
    7. Banerjee, Kuntal & Dubey, Ram Sewak, 2013. "Impatience implication of weakly Paretian orders: Existence and genericity," Journal of Mathematical Economics, Elsevier, vol. 49(2), pages 134-140.
    8. repec:ipg:wpaper:2013-030 is not listed on IDEAS
    9. Mutlu, Gulseren, 2013. "Delay aversion under a general class of preferences," Economics Letters, Elsevier, vol. 121(2), pages 306-310.
    10. Pan, Jinrui & Webb, Craig S. & Zank, Horst, 2015. "An extension of quasi-hyperbolic discounting to continuous time," Games and Economic Behavior, Elsevier, vol. 89(C), pages 43-55.

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    More about this item

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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