Download or read book Pure Time Preference Theory of Interest The written by Jeffrey Herbener and published by Ludwig von Mises Institute. This book was released on 2011-12-15 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Matter of Time written by Orwell Goode and published by . This book was released on 2019-05-28 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the current year, people live for today and fail to pay much attention for the future. We are distracted by 21st Century versions of 'bread and circus'. Several articles and Entertainment narratives promote an empty, hollow, existence depicting family life as boring and oppressive, but encouraging present-minded and shallow thrills to fill the void. Since many individuals have given up on certain received values greater than oneself--family, religion, nation--the future becomes devoid of meaning as there is, presently, little of significant non-financial value worth preserving. Financially, certain economic policies have creative incentive structures punishing long term thinking, while encouraging short term consumption. One of the many ostensible problems affecting Western Society is simple: time preferences. Time preferences can be simplified to describe how much one values future consumption over present consumption. Time preferences are often limited to the realm of economics; however, in this book, they are expanded in an to attempt to illustrate a particular social ailment in tackling the question of how one determines to live in a rapidly changing Western world to include social interactions, prevailing narratives, family, religion, and other issues. No lasting civilization can stand merely living for today--there must be an implied interest in the future beyond the life expectancy of the individual, which their children will inherit. Western birth rates have plummeted to an unprecedented low. Divorce rates and other family-oriented stats paint a bleak picture for the future. And, paradoxically, despite the wonderful GDPs we boast, individuals seem more disinclined than ever to start families--or think about the future. In this book, we delve into several potential spiritual and material reasons as to why Westerners have become so present-minded. Why collective self-confidence has been lost and vapid, cheap, entertainment seems so appealing. This book seeks to illustrate the decivilizing tendencies of high time preferences--instant gratification--on a social scale, how they manifest, what causes them, and how to begin combating a temptation for present-minded consumption over something more future-oriented.
Download or read book The World of Economics written by John Eatwell and published by Springer. This book was released on 1991-05-13 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
Download or read book Capital and Interest written by Eugen von Böhm-Bawerk and published by London ; New York : Macmillan and Company. This book was released on 1890 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eugen von Böhm-Bawerk discusses the history and principles of interest, offering piercing critiques of failed theories and implementations from past eras. The author's investigations range as far back as antiquity and the Middle Ages; how civilizations of old dealt - or failed to deal - with interest in concept and practice. Interest is earned on existing capital, without the owner of said capital engaging in work or activity, an example being money invested in government bonds. Why this income should exist is the initial question posed, and an answer is sought through investigating several facets of the economy. Böhm-Bawerk's thesis is lengthy and meticulous, ranging across theories of production, the uses with which capital can be employed, the relevance of labor and ideas put across by scholars. He investigates the relationship of interest to debt, exploring whether interest itself is a rent on capital, and what this means in the short and long term. The author is keen to address and debunk ideas, such as the Marxist notion that the interest earned with capital is a manifestation of worker exploitation. Published in the 1880s, Böhm-Bawerk's work was among the first to tackle the subject of interest while recognizing the significance of interest rates in the modern economy. His ideas would go on to inspire future works in the Austrian School of economics, influencing later thinkers such as Friedrich Hayek who elaborated upon related economic topics.
Download or read book Economic Aspects of Health written by Victor R. Fuchs and published by University of Chicago Press. This book was released on 1982-04 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlike earlier work in medical economics, which has focused on medical care, these ten papers stress the production and consequences of health itself. They reveal a serious concern with real-world health problems in their investigation of such subjects as infant mortality, life expectancy, morbidity, and disability. These papers are unusual, as well, in bringing to bear on these problems new and powerful theoretical and statistical tools. They draw on, and in some cases are, original sources for new bodies of data. As such, Economic Aspects of Health comprises a useful blend of relevance and rigor.
Download or read book The Causes and Consequences of Interest Theory written by Cem Eyerci and published by Springer Nature. This book was released on 2021-07-07 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest has always been a part of humans' daily economic life, and the concept of interest has attracted intense attention from economists, philosophers, religious scholars and lawmakers. This book analyses the issue of prohibition of interest through the lens of conventional economics and then makes a comparison with the position of Islamic economists. It evaluates the theory of interest presented by Böhm-Bawerk, which is the most respected and applicable theory at present. It provides an in-depth analysis of the current literature, and it is the first book to scrutinize the interpretation of Islamic economists on the concepts of time preference and interest rate control. This book will be of interest to academics and students of economics and Islamic economics.
Download or read book Choice Over Time written by George Loewenstein and published by Russell Sage Foundation. This book was released on 1992-10-27 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of our most urgent national problems suggest a widespread lack of concern for the future. Alarming economic conditions, such as low national savings rates, declining corporate investment in long-term capital projects, and ballooning private and public debt are matched by such social ills as diminished educational achievement, environmental degradation, and high rates of infant mortality, crime, and teenage pregnancy. At the heart of all these troubles lies an important behavioral phenomenon: in the role of consumer, manager, voter, student, or parent, many Americans choose inferior but immediate rewards over greater long-term benefits. Choice Over Time offers a rich sampling of original research on intertemporal choice—how and why people decide between immediate and delayed consequences—from a broad range of theoretical and methodological perspectives in philosophy, political science, psychology, and economics. George Loewenstein, Jon Elster, and their distinguished colleagues review existing theories and forge new approaches to understanding significant questions: Why do people seem to "discount" future benefits? Do individuals use the same decision-making strategy in all aspects of their lives? What part is played by situational factors such as the certainty of delayed consequences? How are decisions affected by personal factors such as willpower and taste? In addressing these issues, the contributors to Choice Over Time address many social, economic, psychological, and personal time problems. Their work demonstrates the predictive power of short-term preferences in behavior as varied as addiction and phobia, the effect of prices on consumption, and the dramatic rise in debt and decline in savings. Choice Over Time provides an essential source for the most recent research and theory on intertemporal choice, offering new models for time preference patterns—and their aberrations—and presenting a diversity of potential solutions to the problem of "temporal myopia."
Download or read book Time Preference written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-04-07 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Time Preference It is the current relative valuation that is placed on receiving a good or some cash at an earlier date in comparison to receiving it at a later period. This is what is known as time preference in the field of economics. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Time preference Chapter 2: Discounting Chapter 3: Big Mac Index Chapter 4: Interest Chapter 5: Interest rate Chapter 6: Intertemporal choice Chapter 7: Neuroeconomics Chapter 8: Consumption (economics) Chapter 9: Man, Economy, and State Chapter 10: Hyperbolic discounting Chapter 11: Intertemporal consumption Chapter 12: Dynamic inconsistency Chapter 13: Monetary-disequilibrium theory Chapter 14: Discounted utility Chapter 15: Social discount rate Chapter 16: Frank Fetter Chapter 17: Arbitrage Chapter 18: Derivative (finance) Chapter 19: Intertemporal budget constraint Chapter 20: Big push model Chapter 21: Reflections on the Formation and Distribution of Wealth (II) Answering the public top questions about time preference. (III) Real world examples for the usage of time preference in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Time Preference.
Download or read book Time and Decision written by George Loewenstein and published by Russell Sage Foundation. This book was released on 2003-02-27 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do people decide whether to sacrifice now for a future reward or to enjoy themselves in the present? Do the future gains of putting money in a pension fund outweigh going to Hawaii for New Year's Eve? Why does a person's self-discipline one day often give way to impulsive behavior the next? Time and Decision takes up these questions with a comprehensive collection of new research on intertemporal choice, examining how people face the problem of deciding over time. Economists approach intertemporal choice by means of a model in which people discount the value of future events at a constant rate. A vacation two years from now is worth less to most people than a vacation next week. Psychologists, on the other hand, have focused on the cognitive and emotional underpinnings of intertemporal choice. Time and Decision draws from both disciplinary approaches to provide a comprehensive picture of the various layers of choice involved. Shane Frederick, George Loewenstein, and Ted O'Donoghue introduce the volume with an overview of the research on time discounting and focus on how people actually discount the future compared to the standard economic model. Alex Kacelnik discusses the crucial role that the ability to delay gratification must have played in evolution. Walter Mischel and colleagues review classic research showing that four year olds who are able to delay gratification subsequently grow up to perform better in college than their counterparts who chose instant gratification. The book also delves into the neurobiology of patience, examining the brain structures involved in the ability to withstand an impulse. Turning to the issue of self-control, Klaus Wertenbroch examines the relationship between consumption and available resources, showing, for example, how a high credit limit can lead people to overspend. Ted O'Donoghue and Matthew Rabin show how people's awareness of their self-control problems affects their decision-making. The final section of the book examines intertemporal choice with regard to health, drug addiction, dieting, marketing, savings, and public policy. All of us make important decisions every day-many of which profoundly affect the quality of our lives. Time and Decision provides a fascinating look at the complex factors involved in how and why we make our choices, so many of them short-sighted, and helps us understand more precisely this crucial human frailty.
Download or read book Methods of Behavior Analysis in Neuroscience written by Jerry J. Buccafusco and published by CRC Press. This book was released on 2000-08-29 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the most well-studied behavioral analyses of animal subjects to promote a better understanding of the effects of disease and the effects of new therapeutic treatments on human cognition, Methods of Behavior Analysis in Neuroscience provides a reference manual for molecular and cellular research scientists in both academia and the pharmaceutic
Download or read book Subjectivism and Interpretative Methodology in Theory and Practice written by Fu-Lai Tony Yu and published by Anthem Press. This book was released on 2020-02-15 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary social science in general and economics in particular are dominated by the method of logical positivism in the British tradition. In contrast to the British philosophy, Subjectivism and Interpretative Methodology in Theory and Practice adopts subjectivism and interpretation methodology to understand human behavior and social action. Unlike positivism, this subjectivist approach, with its root in German idealism, takes human experience as the sole foundation of factual knowledge. All objective facts have to be interpreted and evaluated by human minds. In this approach, experience, knowledge, expectation, plans, errors and revision of plans are key elements. Specifically, this volume uses the subjectivist approach originated in Max Weber’s interpretation method, Alfred Schutz’s phenomenology, and Peter Berger and Thomas Luckmann’s sociology of knowledge to understand economic and social phenomena. The method brings human agency back into the forefront of analysis, adding new insights not only in economics and management, but also in sociology, politics, psychology and organizational behavior.
Download or read book The Construction of Preference written by Sarah Lichtenstein and published by Cambridge University Press. This book was released on 2006-08-28 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main themes that has emerged from behavioral decision research during the past three decades is the view that people's preferences are often constructed in the process of elicitation. This idea is derived from studies demonstrating that normatively equivalent methods of elicitation (e.g., choice and pricing) give rise to systematically different responses. These preference reversals violate the principle of procedure invariance that is fundamental to all theories of rational choice. If different elicitation procedures produce different orderings of options, how can preferences be defined and in what sense do they exist? This book shows not only the historical roots of preference construction but also the blossoming of the concept within psychology, law, marketing, philosophy, environmental policy, and economics. Decision making is now understood to be a highly contingent form of information processing, sensitive to task complexity, time pressure, response mode, framing, reference points, and other contextual factors.
Download or read book Economic Principles written by Frank Albert Fetter and published by Ludwig von Mises Institute. This book was released on 1920 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt:
At a time when many economists were warming to the notion of central planning, Fetter worked to present general economic forces at work in all times and all places. It was the great American economic treatise, and it still holds up after all these years. The date of publication is 1915. It is a massive book at 530 pages.
Recall that Fetter is the thinker who upheld the time-preference theory of interest, someone whose writing Rothbard had interest in. He certainly stands with the Austrians in the broadest sense.
Download or read book The Formulation of Time Preferences in a Multidisciplinary Perspective written by Guy Kirsch and published by Gower Publishing Company, Limited. This book was released on 1988 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Distorted Time Preferences and Structural Change in the Energy Industry written by Christoph Heinzel and published by Springer Science & Business Media. This book was released on 2009-05-07 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present study is a slightly revised version of my PhD thesis which was accepted at the Economics Department of Dresden University of Technology in July 2008. It has a long and a short history. For it began, as suggested theme, as a fundamental evaluation of evolutionary economics for ecological economics, asking, especially, for what the two ?elds actually constitutes and, eventually, relates. In several years of unfruitful dwelling, however, neither of these two young, non-mainstream ?elds proved as constituted at a fundamental level as yet. Rather, ecological economics, founded at the end of the 1980s as an attempt to combine social and natural s- ence approaches(in particular economics and ecology) to study especially long-run environmental problems in an encompassing manner, has mainly developed into an interdisciplinary research forum on environmental-economicissues. Particularly uni?edbycertainnormativestances sharedwithinits community,it constitutes,well understood, a new discpline of its own right, distinct from economics, with its own scienti?c standards, questions, methodologies and institutions (Baumgartner ̈ and Becker 2005). Modern evolutionaryeconomicson the other hand has been a quarter of a century after its inception with Nelson and Winter (1982) still a mainly h- erogeneousendeavor, linked by a (rather amorphous) common interest in economic “evolution” and a critical stance towards neoclassical mainstream economics, with a certain strength in applied studies on industrial dynamics (Heinzel 2004, 2006).
Download or read book The Wiley Blackwell Handbook of Judgment and Decision Making written by Gideon Keren and published by John Wiley & Sons. This book was released on 2015-12-14 with total page 1064 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes
Download or read book Field Experiments written by John A. List and published by Edward Elgar Publishing. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research review discusses the most critical and influential articles that utilise field experimentation to answer questions of economic importance. Field experiments have gained popularity in recent years, allowing researchers to infer causal effects of different market environments, policies and interventions. The articles analysed here provide insights into market functioning and individual and group decision-making across a wide range of domains, including marketplace transactions, labor decisions, charitable giving, financial planning, and education and health-related decision-making. This research review will be an important resource for students new to the methodology and applications of field experiments and academics alike.
