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Bringing present bias back to the present

Abstract : A focused definition of present bias is proposed which takes preferences as primitives. A present biased individual over-weights immediate costs and benefits relative to those occurring at any point in the future. The definition allows to sort out previous confounds, such as decreasing impatience, choice reversal or short-term impatience. It intuitively connects to usual utility representations of present bias like the quasi-hyperbolic model of Laibson (1997) or the fixed cost model of Benhabib, Bisin and Schotter (2010). J.E.L. codes: D8, E21
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https://hal.archives-ouvertes.fr/hal-02133525
Contributor : Alexis Direr <>
Submitted on : Wednesday, June 24, 2020 - 11:13:35 AM
Last modification on : Friday, June 26, 2020 - 3:35:29 AM

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Alexis Direr. Bringing present bias back to the present. 2020. ⟨hal-02133525v3⟩

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