A systematic review of the main anomalies in intertemporal choice

Salvador Cruz Rambaud, Piedad Ortiz Fernández and Isabel María Parra Oller

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2023, vol. 104, issue C

Abstract: Research in the field of intertemporal choice has been growing in recent decades and its contribution is increasingly recognized in various disciplines such as Economics, Psychology, Neuroscience, Medicine, and Political Sciences. This extensive research has mainly focused on the analysis of the anomalies of the DU model, both from an empirical point of view, through the conduct of experiments, and from a theoretical point of view, through the proposal of psychological explanations and alternative models. Given the developments observed in the study of intertemporal choice, it is necessary to identify the contributions which have been provided so far. Therefore, the aim of this paper is to offer a systematic review of the existing literature on anomalies in intertemporal choice which allows researchers from different disciplines to understand the main works in the last 30 years and to be aware of the main gaps and current trends in research. Moreover, some future lines of research are proposed.

Keywords: Intertemporal choice; Magnitude effect; Delay effect; Sign effect; Delay/speed-up asymmetry; Date-delay effect; Sequence effect; Interval effect (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:104:y:2023:i:c:s2214804323000253

DOI: 10.1016/j.socec.2023.101999

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