نتایج جستجو برای: hyperbolic discounting
تعداد نتایج: 29552 فیلتر نتایج به سال:
Empirical studies in economics and behavioral ecology suggest that, ceteris paribus, animals and humans appear to place less weight on the future than on the present, i.e., they act as though they discount future payoffs. Furthermore (and more interestingly), they do so with discount rates that increase as the time before those payoffs are realized grows shorter. In other words, subjects act as...
Recently David Laibson and others have argued in favor of using hyperbolic discount functions. The purpose of this paper is to investigate whether conventional wisdom, based on the standard model with exponential discounting, also holds in the case where consumers have hyperbolic discount functions. In other words do hyperbolic preferences matter for practical policy evaluation? Within the fram...
Temporal-difference (TD) algorithms have been proposed as models of reinforcement learning (RL). We examine two issues of distributed representation in these TD algorithms: distributed representations of belief and distributed discounting factors. Distributed representation of belief allows the believed state of the world to distribute across sets of equivalent states. Distributed exponential d...
This article provides an axiomatic characterization of quasi-hyperbolic discounting and a more general class of semi-hyperbolic preferences. We impose consistency restrictions directly on the intertemporal trade-offs by relying on what we call ‘‘annuity compensations.’’ Our axiomatization leads naturally to an experimental design that disentangles discounting from the elasticity of intertempora...
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