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Title: A Note On The Loewenstein-Prelec Theory Of Intertemporal Choice
Authors: al-Nowaihi, Ali
Dhami, Sanjit
First Published: Aug-2005
Publisher: Dept. of Economics, University of Leicester
Abstract: In one of the major contributions to behavioral economics, Loewenstein and Prelec (1992) set the foundations for the behavioral approach to decision making over time. We correct a number of errors in Loewenstein and Prelec (1992). Furthermore, we provide a correct, more direct and simpler derivation of their generalized hyperbolic discounting formula that has formed the basis of much recent work on temporal choice.
Series/Report no.: Discussion Papers in Economics
Type: Report
Appears in Collections:Reports, Dept. of Economics

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