| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20948 |
| 来源ID | Working Paper 20948 |
| Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better than Delay Discounting | |
| Keith M. Ericson; John Myles White; David Laibson; Jonathan D. Cohen | |
| 发表日期 | 2015-02-16 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Heuristic models have been proposed for many domains of choice. We compare heuristic models of intertemporal choice, which can account for many of the known intertemporal choice anomalies, to discounting models. We conduct an out-of-sample, cross-validated comparison of intertemporal choice models. Heuristic models outperform traditional utility discounting models, including models of exponential and hyperbolic discounting. The best performing models predict choices by using a weighted average of absolute differences and relative (percentage) differences of the attributes of the goods in a choice set. We conclude that heuristic models explain time-money tradeoff choices in experiments better than utility discounting models. |
| 主题 | Microeconomics ; Behavioral Economics |
| URL | https://www.nber.org/papers/w20948 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578623 |
| 推荐引用方式 GB/T 7714 | Keith M. Ericson,John Myles White,David Laibson,et al. Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better than Delay Discounting. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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