Search results
1 – 10 of over 1000Maneesha Singh and Tanuj Nandan
This study aims to conduct a bibliometric analysis on “intertemporal choice” behavior of individuals from journals in the Scopus database between 1957 and 2023. The research…
Abstract
Purpose
This study aims to conduct a bibliometric analysis on “intertemporal choice” behavior of individuals from journals in the Scopus database between 1957 and 2023. The research covered the data on the said topic since it first originated in the Scopus database and carried out performance analysis and content analysis of papers in the business management and finance disciplines.
Design/methodology/approach
Bibliometric analysis, including science mapping and performance analysis, followed by content analysis of the papers of identified clusters, was conducted. Three clusters based on cocitation analysis and six themes (three major and three minor) were identified using the bibliometrix package in R studio. The content analysis of the papers in these clusters and themes have been discussed in this study, along with the thematic evolution of intertemporal choice research over the period of time, paving a way for future research studies.
Findings
The review unpacks publication and citation trends of intertemporal choice behavior, the most significant authors, journals and papers along with the major clusters and themes of research based on cocitation and degree of centrality and relevance, respectively, i.e. discounting experiments and intertemporal choice, impulsivity, risk preference, time-inconsistent preference, etc.
Originality/value
Over the past years, the research on “intertemporal choice” has flourished because of the increasing interest of researchers and scholars from different fields and the dynamic and pervasive nature of this topic. The well-developed and scattered body of knowledge on intertemporal choice has led to the need of applying a bibliometric analysis in the intertemporal choice literature.
Details
Keywords
Wei Lu, Yuwei Zhou, Li Sunny Pan and Yuhao Zhao
People often need to make intertemporal choices in their daily life, such as savings and spending, but their decisions are not always entirely rational. The purpose of this paper…
Abstract
Purpose
People often need to make intertemporal choices in their daily life, such as savings and spending, but their decisions are not always entirely rational. The purpose of this paper is to study the effect of hunger on intertemporal choices and the moderating effect of sensitivity to reward.
Design/methodology/approach
Two studies verified these two hypotheses. The first study confirmed the existence of the main effect by manipulating food aroma. In the second study, by manipulating hunger with images, the authors increased external validity of the study and confirmed the regulation of the sensitivity of rewards.
Findings
The authors found that hungry people prefer to reap the benefits as early as possible in an intertemporal choice; this effect is significant only for those people who are sensitive to reward.
Practical implications
The research contributes to understand more about which factors will influence Chinese residents’ decisions on savings and spending. It also has practical implication for government policy, for example, proposing new ideas for reducing household savings rate and stimulating consumption.
Originality/value
The results confirmed that hunger significantly affects consumers’ intertemporal choices, which broadened the scope of researches on the factors that influence intertemporal choice, and advanced the study on the influence of individual’s physiological state on intertemporal choices. This study filled the gaps in previous researches, and opened up new research ideas for interdisciplinary study.
Details
Keywords
Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of…
Abstract
Positive-framed and negative-framed messages were delivered to examine the effect of framing on intertemporal decisions through lab experiments while holding the level of financial literacy constant. The three big questions adopted by Lusardi and Mitchell were utilized to assess the financial literacy of our subjects before they were asked to complete 20 incentivized intertemporal decisions. A small, delayed reward and a slightly bigger one were incorporated into the intertemporal decisions with a delay of 30 days. The ordinary least square (OLS) shows that the negative relationship between financial literacy and discount rates was held when the delayed reward was small. Interestingly, when the delayed reward became slightly bigger, their discount rates were reduced significantly with the negatively framed message. These findings suggest that the negatively framed message can motivate individuals to save for a greater return in the real world. Lastly, subjects with the highest level of financial literacy were not responsive to the magnitude effect, proving that a financial literacy program is essential to strengthen the individual's financial plan and reduce their discount rates in the developing country context.
Details
Keywords
Glenn W. Harrison and Don Ross
Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of…
Abstract
Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.
Details
Keywords
Gaetano Marino, Giulio Zotteri and Francesca Montagna
Short delivery time is a feature that can influence consumers’ purchasing decisions and that retailers compete over fiercely. Accordingly, evaluating the effect of delivery time…
Abstract
Purpose
Short delivery time is a feature that can influence consumers’ purchasing decisions and that retailers compete over fiercely. Accordingly, evaluating the effect of delivery time on demand and identifying marketing-mix variables that alter this relationship may influence retailers’ strategies and impact supply chain (SC) performance. The paper aims to discuss these issues.
Design/methodology/approach
This study was performed in collaboration with the largest furniture retailer in Italy, which provided its sales and inventory data for 19,000 units sold over a six-month period in 32 stores throughout Italy. Data were analysed using logistic regression with fixed effects.
Findings
The value of delivery time for consumers, even in an industry generally characterised by long delivery lead times, is surprisingly high. The evidence reveals that when the delivery time changes from two days to seven days, demand is reduced by 37.5 per cent, although variables related to location and the marketing mix moderate this relationship.
Practical implications
Retailers can use the findings presented herein to drive their inventory and facility planning decisions and support investments in SC integration.
Originality/value
Supply chain management (SCM) studies consider the value of delivery time anecdotally and have neglected empirical estimations of the magnitude of the effects of delivery time on consumer demand. Further, SCM studies have not explored the factors moderating this relationship, although intertemporal choice and service management studies have demonstrated the existence of such factors.
Details
Keywords
Among biologists it is generally recognized that market activity is having a devastating effect on the biological world. The current worldwide loss of biodiversity may be of the…
Abstract
Among biologists it is generally recognized that market activity is having a devastating effect on the biological world. The current worldwide loss of biodiversity may be of the same order of magnitude as the five mass extinctions which have decimated life on earth during the past 500 million years. One reason for the current crisis is that decisions about resource use are increasingly made from the narrow perspective of market exchange. Decisions made in this context necessarily place a lower value on preservation than those made in a broader social context. Although the phenomenon of discounting generally works against biodiversity conservation, policies may be devised to use discounting to implement land use policies which will take effect in the relatively distant future.