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Time Discounting: Psychophysics of Intertemporal and Probabilistic Choices

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Please use this identifier to cite or link to this item:http://hdl.handle.net/2115/52616

Title: Time Discounting: Psychophysics of Intertemporal and Probabilistic Choices
Authors: Takahashi, Taiki Browse this author →KAKEN DB
Han, Ruokang Browse this author
Nakamura, Fumihiko Browse this author
Keywords: Intertemporal choice
risk
discounting
psychophysics
neuroeconomics
Issue Date: Jun-2012
Publisher: 行動経済学会
Journal Title: Journal of Behavioral Economics and Finance
Volume: 5
Start Page: 10
End Page: 14
Abstract: Intertemporal and probabilistic choices have been attracting attention in behavioral neuroeconomics. Although recent advances in neuroeconomics demonstrated neural processes underlying intertemporal and probabilistic choices, the roles of psychophysical effects on the choices have largely been understudied. In this paper,we review the roles of psychophysical effects in time and risk attitudes. It is shown that Loewenstein-Prelec's generalized hyperbolic temporal discount function (Loewenstein and Prelec(1992)) and Prelec's probability weighting function (Prelec (1998)) are naturally derived from psychophysical laws of time-perception.
Type: article
URI: http://hdl.handle.net/2115/52616
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)

Submitter: 高橋 泰城

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