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Time Discounting and Time Preference: A Critical Review
- S. Frederick, G. Loewenstein, Ted O’Donoghue
- Economics
- 1 June 2002
This paper discusses the discounted utility (DU) model: its historical development, underlying assumptions, and "anomalies" - the empirical regularities that are inconsistent with its theoretical…
Out of control: Visceral influences on behavior
- G. Loewenstein
- Psychology
- 1 March 1996
Abstract Understanding discrepancies between behavior and perceived self-interest has been one of the major, but largely untackled, theoretical challenges confronting decision theory from its infancy…
Separate Neural Systems Value Immediate and Delayed Monetary Rewards
- S. McClure, David I. Laibson, G. Loewenstein, Jonathan D. Cohen
- Psychology, BiologyScience
- 15 October 2004
TLDR
The psychology of curiosity: A review and reinterpretation.
- G. Loewenstein
- Psychology
- 1 July 1994
Research on curiosity has undergone 2 waves of intense activity. The 1st, in the 1960s, focused mainly on curiosity's psychological underpinnings. The 2nd, in the 1970s and 1980s, was characterized…
Anomalies in Intertemporal Choice: Evidence and an Interpretation
- G. Loewenstein, D. Prelec
- Economics
- 1 May 1992
Research on decision making under uncertainly has been strongly influenced by the documentation of numerous expected utility (EU) anomalies—behaviors that violate the expected utility axioms. The…
Labor Supply of New York City Cabdrivers: One Day at a Time
- Colin Camerer, Linda Babcock, G. Loewenstein, R. Thaler
- Economics
- 1 May 1997
Life-cycle models of labor supply predict a positive relationship between hours supplied and transitory changes in wages. We tested this prediction using three samples of wages and hours of New York…
Anticipation and the Valuation of Delayed Consumption
- G. Loewenstein
- Economics
- 1 September 1987
This paper presents a model of intertemporal choice that incorporates "savoring" and "dread"-i.e., utility from anticipat ion of delayed consumption. The model explains why an individual with…
“Coherent Arbitrariness”: Stable Demand Curves Without Stable Preferences
- D. Ariely, G. Loewenstein, D. Prelec
- Economics
- 1 February 2003
In six experiments we show that initial valuations of familiar products and simple hedonic experiences are strongly influenced by arbitrary "anchors" (sometimes derived from a person's social…
Measuring the Prevalence of Questionable Research Practices With Incentives for Truth Telling
- L. John, G. Loewenstein, D. Prelec
- Political Science, BusinessPsychological science
- 16 April 2012
TLDR
The Red and the Black: Mental Accounting of Savings and Debt
- D. Prelec, G. Loewenstein
- Economics, Business
- 1998
In the standard economic account of consumer behavior the cost of a purchase takes the form of a reduction in future utility when expenditures that otherwise could have been made are forgone. The…
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