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Health values, preference inconsistency, and insurance demand

Wrede, Matthias (contributor) - 2005

Several empirical studies provide evidence that their actual health state affects people's attitudes towards health and medical care in hypothetical health states. In the tradition of behavioural economics this paper considers the actual health state as a point of reference and builds a model...

Persistent link: https://www.econbiz.de/10003300915

Present-focused preferences and sin goods consumption at the extensive and intensive margins

Kalamov, Zarko Y.; Runkel, Marco - 2020

This paper analyzes sin goods consumption when individuals exhibit present-focused preferences. It considers three types of present focus: present-bias with varying degrees of naiveté, Gul-Pesendorfer preferences, and a dual-self approach. We investigate the incentives to deviate from healthy...

Persistent link: https://www.econbiz.de/10012206092

Longitudinal analysis of generic substitution

Dalen, Dag Morten; Locatelli Biey, Marilena; Strøm, Steinar - 2010

Using an extensive longitudinal dataset extracted from the Norwegian Prescription Database (NorPD) containing all prescriptions written in the period January 2004 to June 2007, we selected two particular drugs (chemical substances) used against cholesterol. The two brand-name products on the...

Persistent link: https://www.econbiz.de/10008697144

Beliefs and utility : experimental evidence on preferences for information

Falk, Armin; Zimmermann, Florian - 2016

Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utilityconsequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...

Persistent link: https://www.econbiz.de/10011523747

Implicit preferences inferred from choice

Cunningham, Tom; De Quidt, Jonathan - 2016 - Preliminary draft

A longstanding distinction in psychology is between implicit and explicit preferences. Implicit preferences are ordinarily measured by observing non-choice data, such as response time. In this paper we introduce a method for inferring implicit preferences directly from choices. The necessary...

Persistent link: https://www.econbiz.de/10011415271

Information nudges and self-control

Mariotti, Thomas; Schweizer, Nikolaus; Szech, Nora; … - 2018

We study the optimal design of information nudges for present-biased consumers who have to make sequential consumption decisions without exact prior knowledge of their long-term consequences. For arbitrary distributions of risk, there exists a consumer-optimal information nudge that is of cutoff...

Persistent link: https://www.econbiz.de/10011931410

A model of reference-dependent belief updating

Maier, Johannes K.; König, Clemens - 2016

We propose a model of instrumental belief choice under loss aversion. When new information arrives, an agent is prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in some states than actions induced by her prior. These losses...

Persistent link: https://www.econbiz.de/10011557745

Foundations for intertemporal choice

Al-Nowaihi, Ali; Dhami, Sanjit S. - 2018

We consider discounted-utility models with a reference stream of outcomes. We provide a common framework for the main empirically supported discount functions in terms of three underlying functions: The delay, speedup and generating functions. Each of the delay and speedup functions can be...

Persistent link: https://www.econbiz.de/10011800177

Optimal stopping in a dynamic salience model

Dertwinkel-Kalt, Markus; Frey, Jonas; Köster, Mats - 2020

stopping strategy. Guided by salience theory, we theoretically and experimentally analyze the implications of skewness …, and we verify that salience theory coherently explains skewness preferences revealed in static and dynamic decisions …. Based on these findings we conclude that the static salience model - unlike (static) cumulative prospect theory - can be …

Persistent link: https://www.econbiz.de/10012263367

Complexity and choice

Salant, Yuval; Spenkuch, Jörg L. - 2021

-with-evaluation-errors theory that incorporates both dimensions and delivers sharp empirical predictions about their effect on choice behavior. We …

Persistent link: https://www.econbiz.de/10012602341