Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions

Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions

Introduction the Discounted-Utility (DU) framework is widely used to model intertemporal choice, in economics and other fields (including behavioral ecology in biology). The DU model assumes that decision makers make current choices which maximize the discounted sum of instantaneous utilities in fut...

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Main Authors: Mazhara G., Kapustyan V.
Format: Article
Language:English
Published: Mykolayiv National Agrarian University 2019-11-01
Series:Modern Economics
Subjects:
behavioral economics
game theory
cognitive functions
dynamic tasks of several periods
Online Access:https://modecon.mnau.edu.ua/issue/17-2019/mazhara.pdf
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spelling doaj-3a4b4b4026514ad5be479e63b23040112020-11-25T00:12:55ZengMykolayiv National Agrarian UniversityModern Economics2521-63922019-11-011713313810.31521/modecon.V17(2019)-211721Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive FunctionsMazhara G.0Kapustyan V.1Postgraduate Student, National Technical University of Ukraine «Kyiv Polytechnic Institute. Igor Sikorsky», Kyiv, UkraineDoctor of Physical and Mathematical Sciences, Professor, Head of Department of Mathematical modeling of Economic Systems, National Technical University of Ukraine Kyiv Polytechnic Institute Igor Sikorsky, Kyiv, UkraineIntroduction the Discounted-Utility (DU) framework is widely used to model intertemporal choice, in economics and other fields (including behavioral ecology in biology). The DU model assumes that decision makers make current choices which maximize the discounted sum of instantaneous utilities in future periods. The most common assumption is that decision makers discount the future utility at time t by an exponentially declining discount factor, d(t)=δt.https://modecon.mnau.edu.ua/issue/17-2019/mazhara.pdfbehavioral economicsgame theorycognitive functionsdynamic tasks of several periods
collection DOAJ
language English
format Article
sources DOAJ
author Mazhara G.
Kapustyan V.
spellingShingle Mazhara G.
Kapustyan V.
Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions
Modern Economics
behavioral economics
game theory
cognitive functions
dynamic tasks of several periods
author_facet Mazhara G.
Kapustyan V.
author_sort Mazhara G.
title Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions
title_short Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions
title_full Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions
title_fullStr Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions
title_full_unstemmed Hyperbolic Discounting on the Behavior of Economic Agents with Different Cognitive Functions
title_sort hyperbolic discounting on the behavior of economic agents with different cognitive functions
publisher Mykolayiv National Agrarian University
series Modern Economics
issn 2521-6392
publishDate 2019-11-01
description Introduction the Discounted-Utility (DU) framework is widely used to model intertemporal choice, in economics and other fields (including behavioral ecology in biology). The DU model assumes that decision makers make current choices which maximize the discounted sum of instantaneous utilities in future periods. The most common assumption is that decision makers discount the future utility at time t by an exponentially declining discount factor, d(t)=δt.
topic behavioral economics
game theory
cognitive functions
dynamic tasks of several periods
url https://modecon.mnau.edu.ua/issue/17-2019/mazhara.pdf
work_keys_str_mv AT mazharag hyperbolicdiscountingonthebehaviorofeconomicagentswithdifferentcognitivefunctions
AT kapustyanv hyperbolicdiscountingonthebehaviorofeconomicagentswithdifferentcognitivefunctions
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