Access the full text.
Sign up today, get DeepDyve free for 14 days.
T. Koopmans, P. Diamond, R. Williamson (1964)
STATIONARY UTILITY AND TIME PERSPECTIVE1Econometrica, 32
Eric Dolansky, Mark Vandenbosch (2012)
Perceived variance and preference for sequences of outcomesJournal of Product & Brand Management, 21
R. Strotz (1955)
Myopia and Inconsistency in Dynamic Utility MaximizationThe Review of Economic Studies, 23
K. Kirby, Nino Maraković (1995)
Modeling Myopic Decisions: Evidence for Hyperbolic Delay-Discounting within Subjects and AmountsOrganizational Behavior and Human Decision Processes, 64
G. Berns, David Laibson, G. Loewenstein (2007)
Intertemporal choice – toward an integrative frameworkTrends in Cognitive Sciences, 11
J. Cairns, M. Pol (2000)
Valuing future private and social benefits: The discounted utility model versus hyperbolic discounting modelsJournal of Economic Psychology, 21
M. Abdellaoui, A. Attema, H. Bleichrodt (2010)
Intertemporal Tradeoffs for Gains and Losses: An Experimental Measurement of Discounted UtilityMicroeconomics: Search; Learning; Information Costs & Specific Knowledge; Expectation & Speculation eJournal
L. Rao, Shu Li (2011)
New paradoxes in intertemporal choiceJudgment and Decision Making
L. Green, J. Myerson, David Lichtman, Suzanne Rosen, A. Fry (1996)
Temporal discounting in choice between delayed rewards: the role of age and income.Psychology and aging, 11 1
P. Diamond (1965)
The Evaluation of Infinite Utility StreamsEconometrica, 33
R. Luce, J. Tukey (1964)
Simultaneous conjoint measurement: A new type of fundamental measurementJournal of Mathematical Psychology, 1
C. Varey, D. Kahneman (1992)
Experiences extended across time: Evaluation of moments and episodesJournal of Behavioral Decision Making, 5
G. Loewenstein, D. Prelec (1992)
Anomalies in Intertemporal Choice: Evidence and an InterpretationQuarterly Journal of Economics, 107
A. Rubinstein (2003)
International Economic Review " Economics and Psychology " ? the Case of Hyperbolic Discounting *
K. Lancaster (1963)
AN AXIOMATIC THEORY OF CONSUMER TIME PREFERENCEInternational Economic Review, 4
H. Bleichrodt, M. Johannesson (2001)
Time Preference for Health: A Test of Stationarity versus Decreasing Timing Aversion.Journal of mathematical psychology, 45 2
C. Reise, O. Musshoff, K. Granoszewski, A. Spiller (2012)
Which factors influence the expansion of bioenergy? An empirical study of the investment behaviours of German farmersEcological Economics, 73
Jeffery Guyse, L. Keller, Thomas Eppel, John Anderson (2002)
Valuing environmental outcomes: Preferences for constant or improving sequencesOrganizational Behavior and Human Decision Processes, 87
M. Ahlbrecht, Martin Weber (1997)
An empirical study on intertemporal decision making under riskManagement Science, 43
D. Ariely (2001)
Seeing Sets: Representation by Statistical PropertiesPsychological Science, 12
T. Koopmans (1960)
Stationary Ordinal Utility and ImpatienceEconometrica, 28
Elena Reutskaja, R. Hogarth (2009)
Satisfaction in choice as a function of the number of alternatives: When “goods satiate”Psychology & Marketing, 26
Marjorie Shelley (1993)
Outcome signs, question frames and discount ratesManagement Science, 39
G. Loewenstein (1988)
Frames of mind in intertemporal choiceManagement Science, 34
S. Frederick, G. Loewenstein (2008)
Conflicting motives in evaluations of sequencesJournal of Risk and Uncertainty, 37
D. Ariely, Z. Carmon (2000)
Gestalt characteristics of experiences: the defining features of summarized eventsJournal of Behavioral Decision Making, 13
L. Green, J. Myerson (2004)
A discounting framework for choice with delayed and probabilistic rewards.Psychological bulletin, 130 5
A. Rubinstein
‘Economics and psychology’? The case of hyperbolic discounting
Julie Agnew, Lisa Anderson, Jeffrey Gerlach, Lisa Szykman (2008)
Who Chooses Annuities? An Experimental Investigation of the Role of Gender, Framing, and DefaultsThe American Economic Review, 98
G. Ainslie (2012)
Pure hyperbolic discount curves predict “eyes open” self-controlTheory and Decision, 73
K. Kirby (1997)
Bidding on the Future: Evidence Against Normative Discounting of Delayed RewardsJournal of Experimental Psychology: General, 126
J.B. Kruskal, J.D. Carrol
Geometric models and badness‐of‐fit functions
D. Read, N. Read (2004)
Time discounting over the lifespanOrganizational Behavior and Human Decision Processes, 94
K. Kirby, Barbarose Guastello (2001)
Making choices in anticipation of similar future choices can increase self-control.Journal of experimental psychology. Applied, 7 2
G. Chapman (1996)
Expectations and Preferences for Sequences of Health and MoneyOrganizational Behavior and Human Decision Processes, 67
G. Ainslie (1975)
Specious reward: a behavioral theory of impulsiveness and impulse control.Psychological bulletin, 82 4
Ted O’Donoghue, M. Rabin (1999)
Doing It Now or LaterThe American Economic Review, 89
C. Harvey (1986)
Value functions for infinite-period planningManagement Science, 32
W. Białaszek, P. Ostaszewski (2012)
Discounting of sequences of delayed rewards of different amountsBehavioural Processes, 89
L. Green, N. Fristoe, J. Myerson (1994)
Temporal discounting and preference reversals in choice between delayed outcomesPsychonomic Bulletin & Review, 1
A. Drolet, Loraine Lau-Gesk, Carol Scott (2011)
The influence of aging on preferences for sequences of mixed affective eventsJournal of Behavioral Decision Making, 24
L. Green, J. Myerson, Edward Mcfadden (1997)
Rate of temporal discounting decreases with amount of rewardMemory & Cognition, 25
M. Abdellaoui, H. Bleichrodt, O. L'Haridon
Sign‐dependence in intertemporal choice
D. Read, M. Scholten (2012)
Tradeoffs between sequences: weighing accumulated outcomes against outcome-adjusted delays.Journal of experimental psychology. Learning, memory, and cognition, 38 6
R. Thaler, Eric Johnson (1990)
Gambling with the house money and trying to break even: the effects of prior outcomes on risky choiceManagement Science, 36
D. Read, M. Powell (2002)
Reasons for sequence preferencesJournal of Behavioral Decision Making, 15
R. Kay, Ann LeSage (2009)
Examining the benefits and challenges of using audience response systems: A review of the literatureComput. Educ., 53
H. Akaike (1974)
A new look at the statistical model identificationIEEE Transactions on Automatic Control, 19
J. Kruskal (1965)
Analysis of Factorial Experiments by Estimating Monotone Transformations of the DataJournal of the royal statistical society series b-methodological, 27
Jeffery Guyse, Jay Simon (2011)
Consistency Among Elicitation Techniques for Intertemporal Choice: A Within-Subjects Investigation of the AnomaliesDecis. Anal., 8
P. Samuelson (1937)
A Note on Measurement of UtilityThe Review of Economic Studies, 4
O. Musshoff, M. Odening, C. Schade, Syster Maart-Noelck, Serena Sandri (2013)
Inertia in disinvestment decisions: experimental evidenceEuropean Review of Agricultural Economics, 40
D. Wittink, Philippe Cattin (1989)
Commercial Use of Conjoint Analysis: An UpdateJournal of Marketing, 53
J. Myerson, L. Green (1995)
Discounting of delayed rewards: Models of individual choice.Journal of the experimental analysis of behavior, 64 3
D. Read, G. Loewenstein, S. Kalyanaraman (1999)
Mixing virtue and vice: combining the immediacy effect and the diversification heuristicJournal of Behavioral Decision Making, 12
U. Ben-Zion, Ammon Rapport, Joseph Yagil (1987)
Discount rates inferred from decisions: an experimental studyManagement Science, 35
R. Thaler (1981)
Some empirical evidence on dynamic inconsistencyEconomics Letters, 8
J.E. Mazur
An adjustment procedure for studying delayed reinforcement
G. Loewenstein, D. Prelec (1993)
Preferences for sequences of outcomes.Psychological Review, 100
David Laibson (1997)
Golden Eggs and Hyperbolic DiscountingQuarterly Journal of Economics, 112
Paola Manzini, M. Mariotti, L. Mittone (2006)
Choosing monetary sequences: theory and experimental evidenceTheory and Decision, 69
D. Read, S. Frederick, M. Airoldi (2012)
Four days later in Cincinnati: longitudinal tests of hyperbolic discounting.Acta psychologica, 140 2
Philippe Cattin, D. Wittink (1977)
Further Beyond Conjoint Measurement: Toward a Comparison of MethodsACR North American Advances
A. Ahlbrecht, M. Weber
Hyperbolic discounting models in prescriptive theory of intertemporal choice.
G. Loewenstein, N. Sicherman (1991)
Do Workers Prefer Increasing Wage Profiles?Journal of Labor Economics, 9
J. Louviere, R. Carson, Leonie Burgess, D. Street, A. Marley (2013)
Sequential preference questions factors influencing completion rates and response times using an online panelJournal of choice modelling, 8
S. Frederick, G. Loewenstein, Ted O’Donoghue (2002)
Time Discounting and Time Preference: A Critical ReviewJournal of Economic Literature, 40
C. Hurvich, Chih-Ling Tsai (1989)
Regression and time series model selection in small samplesBiometrika, 76
P.C. Fishburn, A. Rubinstein
Time preference
Purpose – The purpose of this paper is to quantify the differences between the classical normative investment theory and alternative investment models of agricultural stakeholders’ choices. Design/methodology/approach – Farmers ( n =1,024) and agricultural commodity traders ( n =509) were asked to rank investment alternatives. Non‐linear regressions were integrated into a Monotonic Analysis of Variance algorithm to analyze the investment rankings. The results reveal coefficients for classical constant discounting, hyperbolic discounting and a preference for a sequence model. Two information criteria indicate the models’ goodness of fit and allow a comparison of the investment rankings of different age groups. Findings – Agribusiness stakeholders have preferences for sequences and could be willing to accept lower internal rates of return for monotone‐distributed rewards. Practical implications – The results are useful for state‐aided agricultural investment policies and contractual relations within agribusiness. Originality/value – To the author's knowledge, this paper is the first paper to analyze agricultural stakeholders’ preferences for sequences.
Agricultural Finance Review – Emerald Publishing
Published: Aug 26, 2014
Keywords: Discounted utility; Hyperbolic discounting; Investment behavior; Preference for sequences
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.