This theoretical paper presents an incentive salience model of intertemporal choice. The model is a variation of the quasi-hyperbolic discounting model. Based on the distinction between ‘wanting’ and ‘liking’, the paper presents one possible explanation of impulsive choices of smaller...

Although decision makers are often reported to have difficulties in making comparisons between multidimensional decision outcomes, economic theory assumes a unidimensional utility measure. This paper reviews evidence from behavioral and brain sciences to assess whether, and for what reasons,...

We apply matching estimators to the large-scale British Household Panel Survey (BHPS) data set to estimate the impact of volunteering on subjective well-being. We take into account personality traits that could jointly determine volunteering behaviour and subjective well-being. We find that the...