The economics of self-destructive choices /

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Bibliographic Details
Author / Creator:Ikeda, Shinsuke, 1957- author.
池田新介, 1957- author.
Imprint:Tokyo : Springer, 2016.
©2016
Description:1 online resource (xv, 191 pages)
Language:English
Series:Advances in Japanese business and economics ; volume 10
Advances in Japanese business and economics ; 10.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/11253123
Hidden Bibliographic Details
ISBN:9784431557937
4431557938
9784431557920
9784431557944
4431557946
443155792X
9784431557920
9784431566946
4431566945
Digital file characteristics:PDF
text file
Notes:Includes bibliographical references (pages 181-186) and index.
Online resource; title from PDF title page (EBSCO, viewed March 14, 2016).
Summary:Based on recent advances in economics, especially those in behavioral economics, this book elucidates theoretically and empirically the mechanism of time-inconsistent decision making that leads to various forms of self-destructive behavior. The topics include over-eating and obesity, over-spending, over-borrowing, under-saving, procrastination, smoking, gambling, over-drinking, and other intemperate behaviors, all of which relate to serious social problems in advanced countries. In this book, the author attempts to construct a bridge between the basic theory of time discounting, especially as of hyperbolic discounting, and empirically observed "irrational (non-classical)" behavior in the various contexts just mentioned. The empirical validity of the theory is discussed using unique micro data as well as public macro data. The book proposes prescriptions for individual decision makers, whether sophisticated or naïve, to make better choices in self-control problems, and also provides policy makers with useful advice for influencing people's decision making in the right directions. This work is recommended not only to general readers who seek to learn how to attain better self-regulation under self-control problems. It also helps researchers who seek an overview of positive and normative implications of hyperbolic discounting, and thereby reconstruct economic theory for a better understanding of actual human behavior and the resulting economic dynamics
Other form:Print version: Ikeda, Shinsuke. Economics of Self-Destructive Choices. Tokyo : Springer Japan, ©2016 9784431557920
Standard no.:10.1007/978-4-431-55793-7

MARC

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245 1 4 |a The economics of self-destructive choices /  |c Shinsuke Ikeda. 
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490 1 |a Advances in Japanese business and economics ;  |v volume 10 
588 0 |a Online resource; title from PDF title page (EBSCO, viewed March 14, 2016). 
504 |a Includes bibliographical references (pages 181-186) and index. 
520 |a Based on recent advances in economics, especially those in behavioral economics, this book elucidates theoretically and empirically the mechanism of time-inconsistent decision making that leads to various forms of self-destructive behavior. The topics include over-eating and obesity, over-spending, over-borrowing, under-saving, procrastination, smoking, gambling, over-drinking, and other intemperate behaviors, all of which relate to serious social problems in advanced countries. In this book, the author attempts to construct a bridge between the basic theory of time discounting, especially as of hyperbolic discounting, and empirically observed "irrational (non-classical)" behavior in the various contexts just mentioned. The empirical validity of the theory is discussed using unique micro data as well as public macro data. The book proposes prescriptions for individual decision makers, whether sophisticated or naïve, to make better choices in self-control problems, and also provides policy makers with useful advice for influencing people's decision making in the right directions. This work is recommended not only to general readers who seek to learn how to attain better self-regulation under self-control problems. It also helps researchers who seek an overview of positive and normative implications of hyperbolic discounting, and thereby reconstruct economic theory for a better understanding of actual human behavior and the resulting economic dynamics 
505 0 |a Preface; Contents; About the Author; Chapter 1: The Paradox of Self-Destructive Choices; 1.1 What Are Self-Destructive Behaviors?; 1.1.1 Harmful Choices; 1.1.2 Associated Self-Destructive Behaviors; 1.2 Comparing Present and Future Rewards; 1.2.1 Present or Future? Choices over Time; 1.2.2 Present-Oriented Inclination: Subjective Discount Rates; 1.2.3 Bankers ́Way of Time Discounting; 1.3 Hyperbolic Discounting and Inconsistent Decisions; 1.3.1 Being Swayed by the Temptation of Immediate Rewards; 1.3.2 Self-Destructive Procrastination; 1.3.3 The Self-Control Problem. 
505 8 |a 1.3.4 ``Sophisticated ́́People and ``Naive ́́People1.4 Binding Future Selves ́Hands; 1.4.1 Binding Loose Selves; 1.4.2 Freezing Assets; 1.5 Coping with Self-Destructive Behaviors; 1.5.1 Knowing Oneself: Self Signaling; 1.5.2 How to Improve Decisions and Behaviors; 1.5.3 Behavioral Economics Policy Recommendations; Supplement A: Monkeys and Chosan-Boshi?; Supplement B: Measuring Personal Discount Rates; Chapter 2: Varying Impatience; 2.1 Anomalies in Intertemporal Choices; 2.2 Smaller Amounts Are Discounted More; 2.2.1 The Magnitude Effect; 2.2.2 Increasing Proportionate Sensitivity. 
505 8 |a 2.2.3 Mental Fixed Costs for Waiting2.2.4 Mental Accounting; 2.3 Gains Are Discounted More Than Losses; 2.3.1 The Sign Effect; 2.3.2 Decreasing Marginal Utility; 2.3.3 Loss Bias; 2.3.4 The Sign Effect and Borrowing Aversion; 2.3.5 Delay/Speed-Up Asymmetry; 2.3.6 The Framing Effect; 2.4 Choosing Improving Sequences; 2.4.1 Choice of Gratification Sequences; 2.4.2 Choosing the Smaller Lifetime Income; 2.4.3 The Seniority-Based Wage Puzzle; 2.4.4 Improvements Yield Gratification; 2.4.5 Savoring and Habituation; 2.4.6 Sequence as Context; 2.5 Conclusions. 
505 8 |a Chapter 3: Hyperbolic Discounting and Self-Destructive Behaviors3.1 Introduction; 3.2 More Impatient for More Immediate Gratification; 3.2.1 Proximal Future Choice and Distal Future Choice; 3.2.2 Exponential Discounting and Hyperbolic Discounting; 3.2.3 The Matching Law; 3.3 Inconsistent Choices; 3.3.1 Dual Personality; 3.3.2 Patient Plan with Impatient Behavior; 3.3.3 Procrastinating Tasks and Preproperating Leisure; 3.3.4 Too Much Consumption and Too Little Accumulation; 3.4 Mechanism of Hyperbolic Discounting; 3.4.1 Today Is Long: Distortion in Psychological Time. 
505 8 |a 3.4.2 The Certainty Effect3.4.3 The Ant and the Grasshopper in the Brain; 3.5 Conclusions; Chapter 4: Self-Control Problems of the Dual Self; 4.1 Introduction; 4.2 Problems of the Dual Self; 4.2.1 The Self-Control Problem; 4.2.2 Pessimistic or Optimistic About Their Future Selves?; 4.2.3 When to Clean?: Sophistication Mitigates Procrastination; 4.2.4 Overly Abstentious Decision-Making; 4.2.5 When to See a Movie?: Sophistication Reinforces Preproperation; 4.3 Excessive Abstinence and Indulgence; 4.3.1 Self-Restraining Smart Choice to See the Grand-Prize Winning Movie. 
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