Research Paper from the year 2012 in the subject Business economics
- Business Management, Corporate Governance, grade: 2, University
of Vienna, language: English, abstract: This research paper will
survey models and experiments for decisions involving outcomes of
different amounts at different points of time. Experiments have
shown that people like to get rewards earlier than later in time.
This is what the concept of Intertemporal choice implies. Thus,
this paper will consider theoretical concepts including discounted
utility, hyperbolic and quasy-hyperbolic models as well as
empirical results indicating how people really make such decisions.
General
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