Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making
A large number of studies have demonstrated that intertemporal decision making process usually results in preferences that reverse over time, or choices that are inconsistent over time. Inconsistency can be explained by different discount models by the effect of reward value perception at different...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2018-11-01
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| Series: | Frontiers in Applied Mathematics and Statistics |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/article/10.3389/fams.2018.00054/full |
| _version_ | 1817986092549275648 |
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| author | Lindomar Soares dos Santos Alexandre Souto Martinez Alexandre Souto Martinez |
| author_facet | Lindomar Soares dos Santos Alexandre Souto Martinez Alexandre Souto Martinez |
| author_sort | Lindomar Soares dos Santos |
| collection | DOAJ |
| description | A large number of studies have demonstrated that intertemporal decision making process usually results in preferences that reverse over time, or choices that are inconsistent over time. Inconsistency can be explained by different discount models by the effect of reward value perception at different moments. Otherwise, one can also understand inconsistency as the result of the time perception effect. Here, we address inconsistency as the result of a subjective time dilation perception effect. We use arguments inspired by the special theory of relativity and focused our study on a generalized model that encompasses psychophysical effects on time perception, where we look for a transformation of the time interval between the pay times of two rewards. Additionally, we present a generalized two-argument hyperbolic utility function for the Bernoulli (logarithmic) one, associating their difference to subjective time intervals. |
| first_indexed | 2024-04-14T00:05:57Z |
| format | Article |
| id | doaj.art-8dabfb461bbe4148aeeb34509f5647c8 |
| institution | Directory Open Access Journal |
| issn | 2297-4687 |
| language | English |
| last_indexed | 2024-04-14T00:05:57Z |
| publishDate | 2018-11-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Applied Mathematics and Statistics |
| spelling | doaj.art-8dabfb461bbe4148aeeb34509f5647c82022-12-22T02:23:32ZengFrontiers Media S.A.Frontiers in Applied Mathematics and Statistics2297-46872018-11-01410.3389/fams.2018.00054388001Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision MakingLindomar Soares dos Santos0Alexandre Souto Martinez1Alexandre Souto Martinez2Faculdade de Filosofia, Ciências e Letras de Ribeirão Preto, Universidade de São Paulo, Ribeirão Preto, BrazilFaculdade de Filosofia, Ciências e Letras de Ribeirão Preto, Universidade de São Paulo, Ribeirão Preto, BrazilInstituto Nacional de Ciência e Tecnologia em Sistema Complexos, Rio de Janeiro, BrazilA large number of studies have demonstrated that intertemporal decision making process usually results in preferences that reverse over time, or choices that are inconsistent over time. Inconsistency can be explained by different discount models by the effect of reward value perception at different moments. Otherwise, one can also understand inconsistency as the result of the time perception effect. Here, we address inconsistency as the result of a subjective time dilation perception effect. We use arguments inspired by the special theory of relativity and focused our study on a generalized model that encompasses psychophysical effects on time perception, where we look for a transformation of the time interval between the pay times of two rewards. Additionally, we present a generalized two-argument hyperbolic utility function for the Bernoulli (logarithmic) one, associating their difference to subjective time intervals.https://www.frontiersin.org/article/10.3389/fams.2018.00054/fulleconophysicspsychophysicsintertemporal decision makinginconsistencytime perceptiongeneralized models |
| spellingShingle | Lindomar Soares dos Santos Alexandre Souto Martinez Alexandre Souto Martinez Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making Frontiers in Applied Mathematics and Statistics econophysics psychophysics intertemporal decision making inconsistency time perception generalized models |
| title | Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making |
| title_full | Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making |
| title_fullStr | Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making |
| title_full_unstemmed | Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making |
| title_short | Inconsistency and Subjective Time Dilation Perception in Intertemporal Decision Making |
| title_sort | inconsistency and subjective time dilation perception in intertemporal decision making |
| topic | econophysics psychophysics intertemporal decision making inconsistency time perception generalized models |
| url | https://www.frontiersin.org/article/10.3389/fams.2018.00054/full |
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