Pre-commitment and flexibility in a time decision experiment |
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| Authors: | Marco Casari |
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| Institution: | (1) Department of Economics, University of Bologna, Piazza Scaravilli 2, 40126 Bologna, Italy |
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| Abstract: | An agent with dynamically inconsistent preferences may deviate from her plan of action as the future draws near. An exponential
discounter may do exactly the same when facing an uncertain future. Through an experiment we compare preference-based vs.
uncertainty-based explanations for choice reversal over time by eliciting choices for pre-commitment and flexibility. Evidence
of widespread commitment favors a preference-based explanation.
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| Keywords: | Experiments Intertemporal choices Dynamic consistency Commitment Flexibility Uncertainty |
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