Bringing present bias back to the present

Alexis Direr

Working Papers from HAL

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

Keywords: time preferences; decreasing impatience; present bias; short- term impatience (search for similar items in EconPapers)
Date: 2020-06-24
New Economics Papers: this item is included in nep-evo, nep-mac and nep-upt
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