Discounting over subjective time: Subjective time perception helps explain multiple discounted utility anomalies

Wang, Y; Wang, L; Keller, LR

Discounting over subjective time: Subjective time perception helps explain multiple discounted utility anomalies

Wang, Y

Wang, L Keller, LR

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Publication Type:: Journal Article
Citation:: International Journal of Research in Marketing, 2015, 32 (4), pp. 445 - 448
Issue Date:: 2015-01-01

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Field	Value	Language
dc.contributor.author	Wang, Y https://orcid.org/0000-0002-3040-7755	en_US
dc.contributor.author	Wang, L	en_US
dc.contributor.author	Keller, LR	en_US
dc.date.issued	2015-01-01	en_US
dc.identifier.citation	International Journal of Research in Marketing, 2015, 32 (4), pp. 445 - 448	en_US
dc.identifier.issn	0167-8116	en_US
dc.identifier.uri	http://hdl.handle.net/10453/122012
dc.description.abstract	© 2015 Elsevier B.V. Consumers often face choices involving intertemporal tradeoffs. Existing research suggests that, in general, decision makers do not obey discounted utility theory because their discount rates are context dependent. Recent literature incorporates decision makers' subjective perception of time into the classic discounted utility model and finds relatively constant discount rates over subjective time. In the current study, we investigated the magnitude effect with subjective time, provided a holistic view via a more comprehensive experiment including multiple anomalies, and found that subjective time perception was able to explain most of the anomalies simultaneously in a single scenario.	en_US
dc.relation.ispartof	International Journal of Research in Marketing	en_US
dc.relation.isbasedon	10.1016/j.ijresmar.2015.08.006	en_US
dc.subject.classification	Marketing	en_US
dc.title	Discounting over subjective time: Subjective time perception helps explain multiple discounted utility anomalies	en_US
dc.type	Journal Article
utslib.citation.volume	4	en_US
utslib.citation.volume	32	en_US
utslib.for	1505 Marketing	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Marketing Discipline
utslib.copyright.status	closed_access
pubs.issue	4	en_US
pubs.publication-status	Published	en_US
pubs.volume	32	en_US

Abstract:

© 2015 Elsevier B.V. Consumers often face choices involving intertemporal tradeoffs. Existing research suggests that, in general, decision makers do not obey discounted utility theory because their discount rates are context dependent. Recent literature incorporates decision makers' subjective perception of time into the classic discounted utility model and finds relatively constant discount rates over subjective time. In the current study, we investigated the magnitude effect with subjective time, provided a holistic view via a more comprehensive experiment including multiple anomalies, and found that subjective time perception was able to explain most of the anomalies simultaneously in a single scenario.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/122012