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Impatience as Selfishness

Author

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  • Jawwad Noor

    (Department of Economics, Boston University)

  • Norio Takeoka

    (norio.takeoka@r.hit-u.ac.jp)

Abstract

Time preference is modelled as a current self that overcomes selfishness by incurring a cognitive cost of empathizing with her future selves. Such a model unifies disparate well-known experimental findings. Behavioral foundations are provided by exploiting the idea that higher stakes provide an incentive for the exertion of higher effort, so that changes in the agent's impatience with respect to the scale of outcomes pin down the underlying process. The behavioral content of limited cognitive resources is shown to lie in violations of Separability.

Suggested Citation

  • Jawwad Noor & Norio Takeoka, "undated". "Impatience as Selfishness," Boston University - Department of Economics - Working Papers Series WP2018-008, Boston University - Department of Economics.
    • Handle: RePEc:bos:wpaper:wp2018-008
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    File URL: http://people.bu.edu/jnoor/jnoor/Research_files/BoundedTimePreference9-9.pdf
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    References listed on IDEAS

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    Cited by:

    1. Cruz Rambaud, Salvador & Parra Oller, Isabel María & Valls Martínez, María del Carmen, 2018. "The amount-based deformation of the q-exponential discount function: A joint analysis of delay and magnitude effects," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 508(C), pages 788-796.
    2. Mihm, Maximilian & Ozbek, Kemal, 2018. "Mood-driven choices and self-regulation," Journal of Economic Theory, Elsevier, vol. 176(C), pages 727-760.
    3. Jawwad Noor & Norio Takeoka, "undated". "Supplementary Appendix to "Impatience as Selfishness"," Boston University - Department of Economics - Working Papers Series WP2018-009, Boston University - Department of Economics.

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