Delay aversion

Efe A. Ok, Jean-Pierre Benoît

We address the following question: When can one person properly be said to be more delay averse than another? In reply, several (nested) comparison methods are developed. These methods yield a theory of delay aversion which parallels that of risk aversion. The applied strength of this theory is demonstrated in a variety of dynamic economic settings, including the classical optimal growth and tree cutting problems, repeated games, and bargaining. Both time-consistent and time-inconsistent scenarios are considered.

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Year of publication:	March 2007
Authors:	Benoît, Jean-Pierre ; Ok, Efe A.
Published in:	Theoretical economics : TE ; an open access journal in economic theory. - Toronto : [Verlag nicht ermittelbar], ISSN 1555-7561, ZDB-ID 2220447-7. - Vol. 2.2007, 1, p. 71-113
Subject:	Delay aversion \| impatience \| consumption smoothing \| time consistency \| Intertemporale Entscheidung \| Intertemporal choice \| Zeitkonsistenz \| Time consistency \| Risikoaversion \| Risk aversion \| Konsumentenverhalten \| Consumer behaviour \| Zeitökonomie \| Economy of time \| Spieltheorie \| Game theory \| Privater Konsum \| Private consumption \| Zeit \| Time

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	hdl:10419/150092 [Handle]
Classification:	D11 - Consumer Economics: Theory ; D90 - Intertemporal Choice and Growth. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011702602