A measure of inconsistencies in intertemporal choice

Autoři: Salvador Cruz Rambaud aff001;  Isabel González Fernández aff001
Působiště autorů: Departamento de Economía y Empresa, Universidad de Almería, Almería, Spain aff001
Vyšlo v časopise: PLoS ONE 14(10)
Kategorie: Research Article
doi: https://doi.org/10.1371/journal.pone.0224242


The aim of this paper is to derive an index able to indicate if a discount function exhibits increasing or decreasing impatience, and, even, in the last case, whether the decreasing impatience is moderate or strong. Moreover, it will be shown that the sign of this indicator coincides with the sign of the convexity index of the discount function when only considering the cases of increasing and decreasing impatience. Consequently, this parameter supposes an improvement of Prelec’s index of convexity. The main advantage of this novel measure is that, the same as Prelec’s index, it uses the differential calculus and, moreover, can be easily plotted by showing the changes from a type of impatience to another one according to time.

Klíčová slova:

Addiction – Calculus – Decision making – Deformation – Economic models – Finance – Gambling addiction – Impulsivity


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2019 Číslo 10
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