Time discounting: Declining impatience and interval effect

Yusuke Kinari, Fumio Ohtake, Yoshiro Tsutsui

研究成果: Chapter in Book/Report/Conference proceedingChapter


Most studies have not distinguished delay from intervals, so that whether the declining impatience really holds has been an open question. We conducted an experiment that explicitly distinguishes them, and confirmed it at short delay such as less than 8-week delay. This implies that people make dynamically inconsistent plans. We also found the interval effect that the time discount rate decreases with prolonged intervals. We show that the interval and the magnitude effects are caused because intertemporal choice is made partially based on the differential in reward amount, while Weber’s law explains neither the delay nor the interval effects sufficiently.

ホスト出版物のタイトルBehavioral Economics of Preferences, Choices, and Happiness
出版社Springer Japan
出版ステータス出版済み - 1 1 2016

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)
  • Psychology(all)

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