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OBESITY AND HYPERBOLIC DISCOUNTING: AN EXPERIMENTAL ANALYSIS AgEcon
Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, Geoffrey M..
Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior. We construct an experiment to test our hypothesis and to determine whether discount rates differ for individuals who engage in behaviors that could endanger their health. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of short-term...
Tipo: Conference Paper or Presentation Palavras-chave: Addiction; Discounting; Experiments; Hyperbolic; Obesity; Time-inconsistency; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy; C91; D12; D91; I18.
Ano: 2010 URL: http://purl.umn.edu/116410
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Obesity and Hyperbolic Discounting: An Experimental Analysis AgEcon
Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, Geoffrey M..
Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior. We construct an experiment to test our hypothesis and to determine whether discount rates differ for individuals who engage in behaviors that could endanger their health. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of short-term...
Tipo: Conference Paper or Presentation Palavras-chave: Addiction; Discounting; Experiments; Hyperbolic; Obesity; Time-inconsistency.; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Health Economics and Policy; Institutional and Behavioral Economics; C91; D12; D91; I18..
Ano: 2010 URL: http://purl.umn.edu/61186
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Sustainability, limited substitutability and non-constant social discount rates AgEcon
Traeger, Christian P..
The paper explores the consequences of limited substitutability in welfare between environmental and produced goods for long-term evaluation. I show how the magnitude and time development of optimal social discount rates depend on the substitutability between the different classes of goods. The notions of weak and strong sustainability are translated into the degree of substitutability. I show that a strong notion of sustainability results in lower weights given to long-run service and consumption streams compared to a weak notion of sustainability.
Tipo: Working or Discussion Paper Palavras-chave: Environmental discount rate; Weak sustainability; Hyperbolic; Limited substitutability; Nonconstant discounting; Numeraire dependence; Project evaluation; Propagator of marginal utility; Social discount factor; Social discount rate; Strong sustainability; Time preference; Consumer/Household Economics; Environmental Economics and Policy; D 61; Q 51; Q 20; Q 01; H 43; D 90.
Ano: 2007 URL: http://purl.umn.edu/6099
Registros recuperados: 3
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