Time-tradeoff sequences for analyzing discounting and time inconsistency / Arthur E. Attema in Management science, Vol. 56 N° 11 (Novembre 2010)  

Public ISBD [article]  inManagement science > Vol. 56 N° 11 (Novembre 2010) . - pp. 2015-2030 Titre : Time-tradeoff sequences for analyzing discounting and time inconsistency Type de document : texte imprimé Auteurs : Arthur E. Attema, Auteur ; Han Bleichrodt, Auteur ; Kirsten I. M. Rohde, Auteur Année de publication : 2011 Article en page(s) : pp. 2015-2030 Note générale : Management Langues : Anglais (eng) Mots-clés : Time inconsistency preference Stationarity Increasing impatience Hyperbolic discounting Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper introduces time-tradeoff (TTO) sequences as a general tool to analyze intertemporal choice. We give several applications. For empirical purposes, we can measure discount functions without requiring any measurement of or assumption about utility. We can quantitatively measure time inconsistencies and simplify their qualitative tests. TTO sequences can be administered and analyzed very easily, using only pencil and paper. For theoretical purposes, we use TTO sequences to axiomatize (quasi-)hyperbolic discount functions. We demonstrate the feasibility of measuring TTO sequences in an experiment, in which we tested the axiomatizations. Our findings suggest rejections of several currently popular discount functions and call for the development of new ones. It is especially desirable that such discount functions can accommodate increasing impatience. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/11/2015 [article] Time-tradeoff sequences for analyzing discounting and time inconsistency [texte imprimé] / Arthur E. Attema, Auteur ; Han Bleichrodt, Auteur ; Kirsten I. M. Rohde, Auteur . - 2011 . - pp. 2015-2030. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 11 (Novembre 2010) . - pp. 2015-2030 Mots-clés : Time inconsistency preference Stationarity Increasing impatience Hyperbolic discounting Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper introduces time-tradeoff (TTO) sequences as a general tool to analyze intertemporal choice. We give several applications. For empirical purposes, we can measure discount functions without requiring any measurement of or assumption about utility. We can quantitatively measure time inconsistencies and simplify their qualitative tests. TTO sequences can be administered and analyzed very easily, using only pencil and paper. For theoretical purposes, we use TTO sequences to axiomatize (quasi-)hyperbolic discount functions. We demonstrate the feasibility of measuring TTO sequences in an experiment, in which we tested the axiomatizations. Our findings suggest rejections of several currently popular discount functions and call for the development of new ones. It is especially desirable that such discount functions can accommodate increasing impatience. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/11/2015

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