How Far Ahead Do People Plan?

John Hey and Julia Knoll

Discussion Papers from Department of Economics, University of York

Abstract: We report on a simple experiment which enables us to infer how far people plan ahead when taking decisions in a dynamic risky context. Usually economic theory assumes that people plan right to the end of the planning horizon. We find that this is true for a little over half of the subjects in the experiment, while a little under one half seem not to plan ahead at all.

Keywords: Planning; dominance; myopia; naivety; sophistication (search for similar items in EconPapers)
JEL-codes: C80 D80 (search for similar items in EconPapers)
Date: 2006-08
New Economics Papers: this item is included in nep-cba, nep-cbe, nep-exp and nep-knm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.york.ac.uk/media/economics/documents/discussionpapers/2006/0617.pdf Main text (application/pdf)

Related works:
Chapter: How far ahead do people plan? (2018)
Journal Article: How far ahead do people plan? (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:yor:yorken:06/17

Access Statistics for this paper

More papers in Discussion Papers from Department of Economics, University of York Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom. Contact information at EDIRC.
Bibliographic data for series maintained by Paul Hodgson ().