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|Title:||A Note On The Loewenstein-Prelec Theory Of Intertemporal Choice|
|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|
|Appears in Collections:||Reports, Dept. of Economics|
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