Anticipatory time (e.g., prospective duration into the future) is one of the key pieces of information to be processed in intertemporal decisions decisions requiring a tradeoff between smaller sooner and larger delayed outcomes. Extensive research has examined human and animal perception of time as it is currently passing (i.e., experienced time) and time that has already passed (i.e., retrospe...

Preliminary. Do not distribute. In this paper, we report the results from a large-scale field experiment with bicycle messengers. We increased the messengers comission rate, their sole form of compensation by 25 percent during four weeks. We find a positive and large intertemporal elasticity for the supply of hours. In response to the wage increase, messengers work roughly 30 percent more shift...

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This paper deals with the problem of making general comparisons of well-being when wellbeing is measured in multiple dimensions. We note at the outset that much of the literature on the measurement of well-being incorporates multiple dimensional indicators of well-being by adding them up, such as when food and non-food expenditures are aggregated to compute total expenditures and assess monetar...

This paper introduces an intertemporal variable cost indirect technology which permits technological change over time and allows for financial flexibility. It characterizes agencies which maximize the outputs or services subject to the budget they face. We define Farrelltype output oriented technical efficiency under different financial regimes and efficiency gains from financial flexibilities....

Hunton et al. (2008) observed a functional effect of continuous monitoring (real earnings management was eliminated) and a dysfunctional effect (intertemporal investment risk appetite was unduly diminished). Intertemporal investment risk appetite refers to managers’ willingness to invest or disinvest in and continue or discontinue with an ongoing long-term risky project. The current study exami...

In this article, an analytical approximate solution method is given to provide investors with the means to make optimal consumption and portfolio choices with recursive utility in a complete market. The investment opportunity set is stochastic over time. The method is used to provide an exact determination of the unit elasticity of intertemporal substitution. An approximate solution method is d...

This study used functional magnetic resonance imaging (fMRI) to examine the neural systems activated during an intertemporal choice task in a group of 14- to 19-year-old adolescents, as well as the relationship of such activation patterns to individual differences in the self-reported ability to engage in nonimmediate thinking (i.e., less impulsive and more future-oriented thoughts and action)....

a r t i c l e i n f o Keywords: Trait anxiety State anxiety Intertemporal decision making The behavioral inhibition system Family socioeconomic status in childhood Based on Gray's theory, which links the behavioral inhibition motivation system (BIS) to the personality trait of " anxiety " , the present study examined whether anxiety (trait vs. state), BIS sensitivity, and family socioeconomic s...