کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
479017 | 1446185 | 2008 | 10 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: An anticipative hyperbolic discount utility on intertemporal decision making An anticipative hyperbolic discount utility on intertemporal decision making](/preview/png/479017.png)
Discount utility is facilitated to scrutinize human decision behaviors for different points in time under the consideration of time preference. Recent studies are extended from two basic models, which are the exponential and the hyperbolic discount models, and the more popular hyperbolic discount model is well recognized for resolving the effects of preference reversal and is less steeply discounting than the exponential discount model. However, to enhance the capability of explaining intertemporal decision making behavior, an anticipative hyperbolic discount utility model was proposed which revised the conventional hyperbolic discount utility by introducing the anticipative parameters under the consideration of anticipation of future gains or losses. An empirical investigation was employed to validate the effectiveness of the proposed anticipative hyperbolic discounting utility model, which was able to empirically go beyond the traditional hyperbolic discounting utility model. Also, the proposed anticipative hyperbolic model is capable of dealing with the anomalies of preference reverse and framing effects.
Journal: European Journal of Operational Research - Volume 184, Issue 1, 1 January 2008, Pages 281–290