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Theoretical Foundations

Angus Deaton

in Understanding Consumption

Published in print:
1992
Published Online:
November 2003
ISBN:
9780198288244
eISBN:
9780191596131
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198288247.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Reviews the basic micro‐foundations of intertemporal choice under uncertainty, and considers the implications for the macroeconomic aggregates of consumption and savings. It also reviews the ... More


Dynamic Consumption Theory

Fabio-Cesare Bagliano and Giuseppe Bertola

in Models for Dynamic Macroeconomics

Published in print:
2004
Published Online:
January 2005
ISBN:
9780199266821
eISBN:
9780191601606
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199266824.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

Solves the basic version of the intertemporal consumption choice model under rational expectations. Discrete‐time dynamic optimization techniques are introduced and the theoretical relationships ... More


Inconsistent Intertemporal Choice

John P. Burkett

in Microeconomics: Optimization, Experiments, and Behavior

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.003.0018
Subject:
Economics and Finance, Microeconomics

This chapter discusses the microeconomic concept of inconsistent intertemporal choice. It explains the intertemporal preferences are consistent if plans made at one moment are still attractive at all ... More


Prospective Decision Making in Animals: A Potential Role for Intertemporal Choice in the Study of Prospective Cognition

Lucy G. Cheke, James M. Thom, and Nicola S. Clayton

in Predictions in the Brain: Using Our Past to Generate a Future

Published in print:
2011
Published Online:
September 2011
ISBN:
9780195395518
eISBN:
9780199897230
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195395518.003.0116
Subject:
Psychology, Cognitive Psychology, Cognitive Neuroscience

This chapter reviews studies on intertemporal choice (ITC) in animals. It argues that intertemporal decisions between immediate and delayed rewards involve competition between affective and cognitive ... More


Macroeconomics and Microeconomics

Angus Deaton

in Understanding Consumption

Published in print:
1992
Published Online:
November 2003
ISBN:
9780198288244
eISBN:
9780191596131
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198288247.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

Reviews the large econometric literature that uses micro data to test the theory of intertemporal allocations and finds it inconclusive. The empirical work that is reviewed focuses on the permanent ... More


Myopia, Hyperbolic Discounting, and Mental Time Travel: Evolutionary Accounts of Lifetime Decisions

E. G. Lea Stephen

in The Interdisciplinary Science of Consumption

Published in print:
2014
Published Online:
January 2015
ISBN:
9780262027670
eISBN:
9780262325387
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027670.003.0004
Subject:
Psychology, Cognitive Neuroscience

Humans are very bad at making choices between outcomes that occur at different points in time; however we do have the capacity to improve our intertemporal choices by making “commitment” responses ... More


Saving Behavior

John P. Burkett

in Microeconomics: Optimization, Experiments, and Behavior

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.003.0017
Subject:
Economics and Finance, Microeconomics

This chapter examines the factors that influence the saving behavior of an individual. It suggests that the decision to save rather than to spend a portion of income is in effect a decision to ... More


How Positive Social Emotions Motivate Actions for the Future Self: Building Bonds, Attaining Ambitions, and Establishing Esteem

Lisa A. Williams and David DeSteno

in Positive Emotion: Integrating the Light Sides and Dark Sides

Published in print:
2014
Published Online:
April 2014
ISBN:
9780199926725
eISBN:
9780199394531
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199926725.003.0012
Subject:
Psychology, Social Psychology

Strong social relationships, goal-attainment, and feeling esteemed by peers are critical components of adaptive social life and well-being. This chapter provides an overview of how positive social ... More


Intertemporal Choice Under Certainty

Tullio Jappelli and Luigi Pistaferri

in The Economics of Consumption: Theory and Evidence

Published in print:
2017
Published Online:
October 2017
ISBN:
9780199383146
eISBN:
9780199383160
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199383146.003.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter introduces the basic intertemporal problem faced by a consumer who has to choose between consumption and saving when future incomes and interest rates are known with certainty. First we ... More


Now or Later

George C. Davis and Elena L. Serrano

in Food and Nutrition Economics: Fundamentals for Health Sciences

Published in print:
2016
Published Online:
November 2017
ISBN:
9780199379118
eISBN:
9780190876609
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780199379118.003.0008
Subject:
Public Health and Epidemiology, Public Health

Chapter 8 provides the economic framework for analyzing the trade-offs between ‘now’ rewards (e.g., hedonic effects) and “later” rewards (e.g., health effects). Because health effects occur in the ... More


Methods

Stefan Homburg

in A Study in Monetary Macroeconomics

Published in print:
2017
Published Online:
August 2017
ISBN:
9780198807537
eISBN:
9780191845451
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198807537.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

Chapter 8 concludes the text with methodical remarks. It defends key assumptions made in the main text and compares them, to the extent they deviate, with more conventional premises. The chapter ... More


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