New paradoxes in intertemporal choice
In: Judgment and Decision Making, Jg. 6 (2011-02-01), S. 122-129
Online
academicJournal
Zugriff:
Similar to research on risky choice, the traditional analysis of intertemporal choice takes the view that an individual behaves so as to maximize the discounted sum of all future utilities. The well-known Allais paradox contradicts the fundamental postulates of maximizing the expected value or utility of a risky option. We describe a violation of the law of diminishing marginal utility as well as an intertemporal version of the Allais paradox.
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New paradoxes in intertemporal choice
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Autor/in / Beteiligte Person: | Rao, Li-Lin ; Li, Shu |
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Zeitschrift: | Judgment and Decision Making, Jg. 6 (2011-02-01), S. 122-129 |
Veröffentlichung: | Cambridge University Press, 2011 |
Medientyp: | academicJournal |
ISSN: | 1930-2975 (print) |
DOI: | 10.1017/S193029750000406X |
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