scholarly journals Long-Term Contracting with Time-Inconsistent Agents

2018 ◽  
Author(s):  
Daniel Gottlieb ◽  
Xingtan Zhang
Keyword(s):  
Time Inconsistent

scholarly journals Consumption Threshold at Which Virtue Products Become Vice Products: The Case of Beer

Foods ◽  
2021 ◽  
Vol 10 (8) ◽  
pp. 1688
Author(s):  
Enar Ruiz-Conde ◽  
Francisco Mas-Ruiz ◽  
Josefa Parreño-Selva
Keyword(s):  
Survey Data ◽  
Health Benefit ◽  
Time Inconsistent

Relative vices and virtues have traditionally been defined according to time-inconsistent preferences. Vice products exchange small immediate rewards (e.g., pleasure) for larger delayed costs (e.g., health), while virtue products exchange small immediate costs for larger delayed rewards. This definition can be criticized because there is evidence that small amounts of beer (or chocolate) convey a long-term health benefit, whereas large quantities impose a delayed cost. Thus, we assume that virtue products can become vice products when consumption is above a certain threshold. Survey data identifies alcoholic beer as a product that gives immediate rewards and does not impose a delayed cost. Our analysis reveals a consumption threshold that supports our assumptions.

scholarly journals Long‐Term Contracting With Time‐Inconsistent Agents

Econometrica ◽  
2021 ◽  
Vol 89 (2) ◽  
pp. 793-824
Author(s):  
Daniel Gottlieb ◽  
Xingtan Zhang
Keyword(s):  
Bargaining Power ◽  
Welfare Loss ◽  
Present Bias ◽  
Exclusive Contracts ◽  
Risk Neutral ◽  
Time Inconsistent

We study contracts between naive present‐biased consumers and risk‐neutral firms. We show that the welfare loss from present bias vanishes as the contracting horizon grows. This is true both when bargaining power is on the consumers' and on the firms' side, when consumers cannot commit to long‐term contracts, and when firms do not know the consumers' naiveté. However, the welfare loss from present bias does not vanish when firms do not know the consumers' present bias or when they cannot offer exclusive contracts.

scholarly journals Behavioral Economics and Obesity: An Analysis of Fitness-Based Tax Incentives

2016 ◽  
Vol 23 ◽  
pp. 76
Author(s):  
Nicholas Wallace
Keyword(s):  
Physical Activity ◽  
Government Intervention ◽  
Hyperbolic Discounting ◽  
Tax Incentives ◽  
The United States ◽  
Tax Credits ◽  
State Governments ◽  
Time Inconsistent ◽  
The Impact

B oth federal and state governments have experimented with policy proposals aimed at decreasing obesity rates, mostly through the regulation of unhealthy foods. There has been little research, however, on the impact of fitness-based policy initiatives on obesity rates. To address these issues, this paper first outlines previous policies aimed at preventing obesity and provides justification in favor of government intervention. In particular, this paper argues that hyperbolic discounting, a specific type of time-inconsistent preference where individuals make decisions that favor instant gratification rather than long-term benefits, provides economic justification for government intervention to combat obesity. It then uses Canada as a case study to demonstrate the effect that fitness-based tax credits have on physical activity, obesity, and long-term healthcare costs, and highlights a current pending piece of legislation in the 114th US Congress that would bring a similar program to the United States. More research is needed to confirm the effectiveness of fitness tax incentives on increasing physical activity among currently sedentary individuals. Nonetheless, this paper concludes by suggesting that fitness-based tax incentives are more politically viable than food regulations.

Therapy and prevention for mental health: What if mental diseases are mostly not brain disorders?

2019 ◽  
Vol 42 ◽  
Author(s):  
John P. A. Ioannidis
Keyword(s):  
Mental Health ◽  
Mental Disease ◽  
Brain Disorders ◽  
Social Stressors ◽  
Labor Education ◽  
Mental Diseases ◽  
Long Term Follow Up ◽  
Political Decisions

AbstractNeurobiology-based interventions for mental diseases and searches for useful biomarkers of treatment response have largely failed. Clinical trials should assess interventions related to environmental and social stressors, with long-term follow-up; social rather than biological endpoints; personalized outcomes; and suitable cluster, adaptive, and n-of-1 designs. Labor, education, financial, and other social/political decisions should be evaluated for their impacts on mental disease.

Conceptual short-term memory (CSTM) supports core claims of Christiansen and Chater

2016 ◽  
Vol 39 ◽  
Author(s):  
Mary C. Potter
Keyword(s):  
Working Memory ◽  
Rapid Serial Visual Presentation ◽  
Language Comprehension ◽  
Short Term Memory ◽  
Visual Presentation ◽  
Long Term Memory ◽  
Short Term ◽  
Term Memory ◽  
Use Of Knowledge

AbstractRapid serial visual presentation (RSVP) of words or pictured scenes provides evidence for a large-capacity conceptual short-term memory (CSTM) that momentarily provides rich associated material from long-term memory, permitting rapid chunking (Potter 1993; 2009; 2012). In perception of scenes as well as language comprehension, we make use of knowledge that briefly exceeds the supposed limits of working memory.

Brief summary of Kleť photographic search programme for minor planets

1999 ◽  
Vol 173 ◽  
pp. 189-192
Author(s):  
J. Tichá ◽  
M. Tichý ◽  
Z. Moravec
Keyword(s):  
Ccd Camera ◽  
Minor Planet ◽  
Minor Planets ◽  
Main Belt

AbstractA long-term photographic search programme for minor planets was begun at the Kleť Observatory at the end of seventies using a 0.63-m Maksutov telescope, but with insufficient respect for long-arc follow-up astrometry. More than two thousand provisional designations were given to new Kleť discoveries. Since 1993 targeted follow-up astrometry of Kleť candidates has been performed with a 0.57-m reflector equipped with a CCD camera, and reliable orbits for many previous Kleť discoveries have been determined. The photographic programme results in more than 350 numbered minor planets credited to Kleť, one of the world's most prolific discovery sites. Nearly 50 per cent of them were numbered as a consequence of CCD follow-up observations since 1994.This brief summary describes the results of this Kleť photographic minor planet survey between 1977 and 1996. The majority of the Kleť photographic discoveries are main belt asteroids, but two Amor type asteroids and one Trojan have been found.

Evolution of Large-Scale Coronal Structures

1994 ◽  
Vol 144 ◽  
pp. 29-33
Author(s):  
P. Ambrož
Keyword(s):  
Magnetic Field ◽  
Field Line ◽  
Large Scale ◽  
Coronal Magnetic Field ◽  
Source Surface ◽  
Solar Cycles ◽  
Characteristic Relationship ◽  
The Magnetic Field ◽  
Coronal Structures

AbstractThe large-scale coronal structures observed during the sporadically visible solar eclipses were compared with the numerically extrapolated field-line structures of coronal magnetic field. A characteristic relationship between the observed structures of coronal plasma and the magnetic field line configurations was determined. The long-term evolution of large scale coronal structures inferred from photospheric magnetic observations in the course of 11- and 22-year solar cycles is described.Some known parameters, such as the source surface radius, or coronal rotation rate are discussed and actually interpreted. A relation between the large-scale photospheric magnetic field evolution and the coronal structure rearrangement is demonstrated.

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