Indecisiveness on risk preference and time preference choices. Does financial literacy matter?
نویسندگان
چکیده
منابع مشابه
Choice deferral, indecisiveness and preference for flexibility
We introduce a model of menu choice in which a person’s psychological tastes and revealed preferences may be distinct. The former is modeled by means of a possibly incomplete (but otherwise rational) preference relation <, and the latter by a completion <∗ of that relation. The two relations are connected through an axiom which formalizes the following intuitive rule: “Whenever in doubt about w...
متن کاملIndecisiveness aversion and preference for commitment
We present an axiomatic model of preferences over menus that is motivated by three assumptions. First, the decision maker is uncertain ex ante (i.e. at the time of choosing a menu) about her ex post (i.e. at the time of choosing an option within her chosen menu) preferences over options, and she anticipates that this subjective uncertainty will not resolve before the ex post stage. Second, she ...
متن کاملTime Preference and its Effects on Intertemporal
Time preference has a peculiar role in determining the level of economic activities. Time preferenceis the most important origin of interest rate. In this paper we study the founders and defenders'viewpoints about time preference and then we try to criticize them. It seems that discounting futureutilities is resulting from irrationality and it is ethically indefensible too. From mathematical as...
متن کاملEstimation on stated-preference experiments constructed from revealed-preference choices
Constructing stated-preference (sp) experiments from a choice that the respondent made in a revealed-preference setting can enhance the realism of the sp task and the efficacy of preference revelation. However, the practice creates dependence between the sp attributes and unobserved factors, contrary to the independence assumption that is maintained for standard estimation procedures. We descri...
متن کاملSuperfluous Choices and the Persistence of Preference
Superfluous choices are unnecessary choice steps that could be removed without affecting the final choice context and outcome. They are introduced in this article in order to study the mere effects of consumer participation. Superfluous choices have no immediate impact on the chosen option but strongly increase consumers’ propensity to persist with the same option on future choice occasions. Fo...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Cogent Psychology
سال: 2019
ISSN: 2331-1908
DOI: 10.1080/23311908.2019.1647817