Purpose We conduct a hypothetical dictator game with social distance and time delays using conjoint analysis. Design / methodology / approach Responses from 1,347 Japanese adults are collected through an online survey, and their responses are analyzed using a random parameter logit model. Findings Social preference for the present income of a stranger equals social preference for the income of ...

T he optimal allocation of natural gas resources to various uses such as final and intermediate consumption, injection into oil fields, and exports can help policymakers to use this kind of resources efficiently. Empirical evidence support using hyperbolic discount rates instead of fixed discount rates in the economic literature. The purpose of this study is to maximize the social we...

Purpose – Studies on optimal discount levels have sometimes yielded contradictory results, leaving practitioners with unclear direction. This paper proposes clarifying the optimum discount levels. Design/methodology/approach – This study asked 453 consumers to choose their own optimal discount levels (from 0-80 percent) for eight product categories across two distribution channels (physical sto...

As the same framework of Fuzzy decision processes with the discounted case we will specify an average fuzzy criterion model and develop its optimization by “fuzzy max order” under appropriate conditions. The average reward is characterized, by introducing a relative value function, as a unique solution of the associated equation. Also we derive the optimality equation using the “vanishing disco...

In this supplement to Krishna and Sadowski [2013], we construct a recursive representation of choice over infinite horizon consumption problems where the decision maker’s utilities follow a subjective Markov process. The parameters of the representations, which are the (evolution of) beliefs over consumption utilities, and the discount factor, are uniquely identified from behavior.

The innnite horizon discounted L 1 problem is studied as the discount factor goes to zero. It is related to the limit of the nite horizon problem as the horizon becomes innnite. The deterministic problem with and without a running cost is considered.

This paper examines the application of reinforcement learning to a wireless communication problem. The problem requires that channel utility be maximized while simultaneously minimizing battery usage. We present a solution to this multi-criteria problem that is able to significantly reduce power consumption. The solution uses a variable discount factor to capture the effects of battery usage.