Zamienność stopy dyskonta dla wyborów w czasie

• Autorzy: Dariusz Fatuła
• Języki publikacji: PL

Abstrakty

Wyniki badań przeprowadzonych na potrzeby artykułu pokazują, ze respondenci żądają wyższej stopy dyskontowej wraz ze wzrostem długości okresu liczonego jako całość. Przy obliczeniu jednak stopy dyskontowej na jednostkę okresu żądana jednostkowa stopa dyskontowa spada wraz ze wzrostem długości okresu. Praktyka rynku finansowego opiera się generalnie na odwrotnej tendencji. Wraz ze wzrostem długości okresu, rośnie też jednostkowa stopa dyskonta. (fragment tekstu)

EN

The article is based on the researches of time preferences among students of The Academy of Economics. The surveyed students indicated what increase of the amount they wished in order to accept a delay of the prize for some period of time, or what increase would be acceptable in case of postponement of penalty. They also took into consideration implications of the level of a index of preferences of time for the theory of life cycle LCH. (original abstract)

Słowa kluczowe

PL

Stopa dyskontowa; Zysk; Konsumpcja

EN

Discount rate; Profit; Consumption

• Czasopismo: Zeszyty Naukowe / Krakowska Szkoła Wyższa im. Andrzeja Frycza Modrzewskiego
• Rocznik: 2005
• Tom: Marketing
• Strony: 193--206

Twórcy

autor

Dariusz Fatuła

• Krakowska Szkoła Wyższa im. Andrzeja Frycza Modrzewskiego w Krakowie

Bibliografia

• Ainslie G., (1975), Specious Reward: a Behavioral Theory of Impulsiveness and Impulse Control, "Psychologocal Bulletin", 82, s. 463-496.
• Ando A., Modigliani F., (1963), The "life cycle" hypotesis of saving: aggregate implications and tests, "American Economic Review", 53, s. 55-84.
• Aronson E., Carlsmith J. M., Experimentation in social psychology, [w:] G. Lindzey, E. Aronson (red.), Handbook of Social Psychology, t. 2, s. 1-79, Addison-Wesley 1968.
• Bernhaim B.D., Shleifer A., Summers L.H., (1985), The strategic bequest motive, Journal of Political Economy", 93 (6), s. 1045-1076.
• Benzion U., Rapoport A., Yagil J., (1989), Discount Rates Inferred from Decision: An Experimental Study, "Management Science", 35, s. 270-284.
• Cairns J., van der Pol M. (1999), Valuingfuture private and social benefits: The discounted utility model versus hiperbolic discounting model, "Journal of Economic Psychology", 21, s. 191-205.
• Chapman G.B., (1996), Temporal discounting and utility for health and money, Journal of Experimental Psychology: Learning, Memory, and Cognition", 22:3, s. 771-791.
• Chapman G.B., Elstein A., (1995), Valuing the futur: Temporal discounting of health and money, "Medical Decision Making", 15:4, s. 373-38.
• Fatuła D., (1999), Skłonność do oszczędzania i inwestowania gospodarstw domowych w warunkach gospodarki rynkowej, praca doktorska, Akademia Ekonomiczna, Kraków.
• Gately D., (1980), Individual dscount rates and the purchase and utilization of energy-using durables: Comment, "Bell Journal of Economics", 11, s. 373-374.
• Hausman J., (1979), Individual dscount rates and the purchase and utilization of energy- using durables, "Bell Journal of Economics", 10:1, s. 33-54.
• Holcomb .H., Nelson P.S., (1992),Anthother experimental look at individual time preference, "Rationality and Society",4:2, s. 199-220.
• Fischer I., The Theory of Interest, London 1930.
• Fishbrun P.C., Rubinstein A., (1982), Time preference, "International Economic Review", 23, s. 677-694.
• Friedman M., (1957), A theory of the consumption function, Princeton.
• Herrnstein R.J., (1990), Rational Choice Theory: Necessary but not Sufficient, "American Psychologist", 45, s. 356-367.
• Horowitz J.K., (1991), Discounting money payoffs: An experimental analysis, [in:] S. Kaish , B. Gilad, (red.), Handbook of behavioral economics (vol. 2.), Greenwich.
• Kahneman D., Tversy A., (1979), Prospect theory: An analysis of decision under risk. "Econometrica", 47, s. 263-292.
• King M., The economics of saving: a survey of recent contributions, [in:] K. J. Arrow, S. Honkapohja, (red.) Frontiers of economics, Oxford 1985, s. 227-294.
• Kirby K.N., (1997), Bidding on thefuture: Evidence against normative discounting of delayed rewards, Journal of Experimental Psychology: General", 126, s. 54-70.
• Kirby K.N., Markovitc N.N., (1995), Modeling myopic decision: Evidence for hyperbolic delay-discountin with subjects and amounts, "Organizational Behavior & Human Decision Proces", 64, s. 22-30.
• Koopmans T., (1960), Stationary ordinal utility and impatience, "Econometrica", 28, s. 287-309.
• Laibison D., (1997), Golden eggs and hyperbolic discounting, "Quarterly Journal of Economics", 112, s. 443-477.
• Laibison D., (1998), Life - cycle consumption and hyperbolic discount function, "European Economic Review", 42, s. 861-871.
• Lea S.E.G., Webler P., Walker C.M., (1995), Psychlogicalfactors in consument debt: Money management, economic socialization, and credit use, "Journal of Economic Psychology", 16, s. 681-701.
• Loewenstein G., Prelec D., (1992), Anomalies in Intertemporal Choice. Evidence and Interpretation,,, Quarterly Journal of Economics", 107:2, s. 573-579.
• Loewenstein G., (1987 ), Anticipation and the Value of Delayed Consumption, "Economic Journal", 97, s. 666-684.
• Loewenstein G., (1988), Frames of mind in intertemporal choice, "Management Science", 34, s. 200-214.
• Pender J.L.,(1996), Discount rates and credit markets: Theory and evidence from rural India, Journal of Development Economics, 50:2, s. 257-296.
• Prelec D., Loewenstein G., (1991 ), Decision Making Over Time and Under Uncertainty: a Common Approach, "Management Science", 37, s. 770-786.
• Raineri A., Rachlin H., (1993), The effect of temporal constraints on the value of money and other commodities. Journal of Behavioral Decision Making, 6, 77-94.
• Ruderman H., Levine M.D., Mcmahon J.E., (1987), The behavior of the market for energy efficiency in residential appliances including heating and cooling equipment, "Energy Journal", 8:1, s. 101-124.
• . Sweringa R.J., Weick K.E. (1982), An assessment of laboratory experimentation in accounting, "Journal of Accounting Research", 20, s. 56-101.
• Thaler R.H., (1981), Some empirical evidence of dynamic inconsistency, "Economic Letters", 81, s. 201-207.
• Wilks S.S., (1946), Mathematical Statistics, Princeton.