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The Handbook of Rational and Social Choice$
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Paul Anand, Prasanta Pattanaik, and Clemens Puppe

Print publication date: 2009

Print ISBN-13: 9780199290420

Published to Oxford Scholarship Online: May 2009

DOI: 10.1093/acprof:oso/9780199290420.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 19 August 2019

Choice over Time *

Choice over Time *

Chapter:
(p.239) CHAPTER 10 CHOICE OVER TIME*
Source:
The Handbook of Rational and Social Choice
Author(s):

Paola Manzini

Marco Mariotti

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199290420.003.0011

This chapter reviews both the theoretical modeling and the experimental evidence, relating to choice over time. Most of the space is devoted to choices between outcome‐date pairs, which has been better studied, especially experimentally, but it also discusses choices between time sequences of outcomes. It distinguishes between “soft anomalies”, which can be accommodated by a simple modification of the standard exponential discounting model (e.g. hyperbolic discounting) and “hard anomalies” which pose a more fundamental challenge.

Keywords:   time, discounting models, experimental evidence, hard annomalies, soft anomalies, hyperbolic discounting

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