《The role of time estimation in decreased impatience in Intertemporal
Choice》
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作者:
Camila S. Agostino Peter M. E. Claessens, Fuat Balci and Yossi Zana
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最新提交年份:
2020
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英文摘要:
The role of specific cognitive processes in deviations from constant discounting in intertemporal choice is not well understood. We evaluated decreased impatience in intertemporal choice tasks independent of discounting rate and non-linearity in long-scale time representation; nonlinear time representation was expected to explain inconsistencies in discounting rate. Participants performed temporal magnitude estimation and intertemporal choice tasks. Psychophysical functions for time intervals were estimated by fitting linear and power functions, while discounting functions were estimated by fitting exponential and hyperbolic functions. The temporal magnitude estimates of 65% of the participants were better fit with power functions (mostly compression). 63% of the participants had intertemporal choice patterns corresponding best to hyperbolic functions. Even when the perceptual bias in the temporal magnitude estimations was compensated in the discounting rate computation, the data of 8 out of 14 participants continued exhibiting temporal inconsistency. The results suggest that temporal inconsistency in discounting rate can be explained to different degrees by the bias in temporal representations. Non-linearity in temporal representation and discounting rate should be evaluated on an individual basis. Keywords: Intertemporal choice, temporal magnitude, model comparison, impatience, time inconsistency
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中文摘要:
在跨期選擇中,特定認(rèn)知過(guò)程在偏離持續(xù)折扣中的作用尚不清楚。我們?cè)u(píng)估了跨時(shí)選擇任務(wù)中不耐煩的減少,與長(zhǎng)期時(shí)間表征中的貼現(xiàn)率和非線性無(wú)關(guān);非線性時(shí)間表征有望解釋貼現(xiàn)率的不一致性。參與者進(jìn)行時(shí)間量級(jí)估計(jì)和跨時(shí)間選擇任務(wù)。時(shí)間間隔的心理物理函數(shù)通過(guò)擬合線性函數(shù)和冪函數(shù)來(lái)估計(jì),而折扣函數(shù)則通過(guò)擬合指數(shù)函數(shù)和雙曲函數(shù)來(lái)估計(jì)。65%受試者的時(shí)間震級(jí)估計(jì)值更符合冪函數(shù)(主要是壓縮)。63%的參與者的跨期選擇模式最符合雙曲線函數(shù)。即使在貼現(xiàn)率計(jì)算中補(bǔ)償了時(shí)間幅度估計(jì)中的知覺偏差,14名參與者中有8人的數(shù)據(jù)仍然表現(xiàn)出時(shí)間不一致性。結(jié)果表明,貼現(xiàn)率的時(shí)間不一致性可以通過(guò)時(shí)間表征中的偏差得到不同程度的解釋。時(shí)間代表性和貼現(xiàn)率的非線性應(yīng)單獨(dú)評(píng)估。關(guān)鍵詞:跨期選擇、時(shí)間幅度、模型比較、不耐煩、時(shí)間不一致
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分類信息:
一級(jí)分類:Economics 經(jīng)濟(jì)學(xué)
二級(jí)分類:Theoretical Economics 理論經(jīng)濟(jì)學(xué)
分類描述:Includes theoretical contributions to Contract Theory, Decision Theory, Game Theory, General Equilibrium, Growth, Learning and Evolution, Macroeconomics, Market and Mechanism Design, and Social Choice.
包括對(duì)契約理論、決策理論、博弈論、一般均衡、增長(zhǎng)、學(xué)習(xí)與進(jìn)化、宏觀經(jīng)濟(jì)學(xué)、市場(chǎng)與機(jī)制設(shè)計(jì)、社會(huì)選擇的理論貢獻(xiàn)。
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