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A comparison between Tsallis’s statistics-based and generalized quasi-hyperbolic discount models in humans
| Title: | A comparison between Tsallis’s statistics-based and generalized quasi-hyperbolic discount models in humans |
| Authors: | Takahashi, Taiki Browse this author →KAKEN DB |
| Keywords: | Econophysics | | Intertemporal choice | | Inconsistency | | Neuroeconomics | | Multiple selves |
| Issue Date: | 15-Jan-2008 |
| Publisher: | Elsevier B.V. |
| Journal Title: | Physica A: Statistical Mechanics and its Applications |
| Volume: | 387 |
| Issue: | 2-3 |
| Start Page: | 551 |
| End Page: | 556 |
| Publisher DOI: | 10.1016/j.physa.2007.09.007 |
| Abstract: | Intertemporal choice has drawn attention in econophysics and neuroeconomics. Both impulsivity and inconsistency in intertemporal choice can be parametrized with a Tsallis’s statistics-based q-exponential discount model. Although a recent neuroeconomic study has proposed a dual-self discounting model (a generalized quasi-hyperbolic discounting), no study to date has examined the relationship between the q-exponential and quasi-hyperbolic models. We empirically estimated the inconsistency parameter 1−q in the q-exponential discount function and the parameter of an internal conflict between dual selves in intertemporal choice by humans. We observed that (i) the inconsistency parameter in the q-exponential model is positively related to a conflict between selves within a subject and (ii) q-exponential discounting better fits group data, while quasi-hyperbolic discounting better fits individual data. Our results indicate that (i) inconsistent intertemporal decision-makers may experience strong internal conflict during intertemporal choice behavior, and (ii) the q-exponential and the quasi-hyperbolic discount models should respectively be utilized for group and individual data. The usefulness of the q-exponential and the quasi-hyperbolic in studies of addiction and economic behavior is discussed. |
| Type: | article (author version) |
| URI: | http://hdl.handle.net/2115/51136 |
| Appears in Collections: | 文学院・文学研究院 (Graduate School of Humanities and Human Sciences / Faculty of Humanities and Human Sciences) > 雑誌発表論文等 (Peer-reviewed Journal Articles, etc)
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Submitter: 高橋 泰城
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