Discounting and Criminals’ Implied Risk Preferences

Discounting and Risk Neutrality

Let be a binary relation in which is a real vector space of vector-valued discrete-time Ð ¤ ß Z Ñ Z stochastic processes with as the sequence of zero vectors. If satisfies four axioms, then ! Ð ¤ ß Z Ñ there are unique discount factors such that preferences regarding stochastic processes induce prefences among present value random vectors. Three of the axioms are familiar: weak ordering, contin...

Time Discounting in Relation to Career Preferences

The present study used a longitudinal design to test aspects of Kirby and Herrnstein’s (1995) theory of time discounting. Specifically, the prediction that preferences reverse due to changes in delay was tested in a longitudinal study of career-path selections made by employees in a Hong Kong real estate consultancy. Over a three-year period, 16 of 23 subjects reversed their career preference f...

Nonparametric Risk Management and Implied Risk Aversion

Discounting Time and Time Discounting: Subjective Time Perception and Intertemporal Preferences

Vol. XLVI (August 2009), 543–556 543 © 2009, American Marketing Association ISSN: 0022-2437 (print), 1547-7193 (electronic) *Gal Zauberman is Associate Professor of Marketing (e-mail: [email protected]), and B. Kyu Kim is a doctoral student (e-mail: [email protected]), the Wharton School, University of Pennsylvania. Selin A. Malkoc is Assistant Professor of Marketing, Olin Busine...

Induced Discounting and Risk Management

The goal of this paper is to specify and summarize assumptions and proofs for new approaches to discounting proposed in our catastrophic risk management studies. The main issue is concerned with justification of investments, which may turn into benefits over long and uncertain time horizon. For example, how can we justify mitigation efforts for expected 300-year flood that can occur also next y...