Die Macht der Versuchung: Irrationaler Überkonsum in einem Suchtexperiment
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Die Macht der Versuchung: Irrationaler Überkonsum in einem Suchtexperiment
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 115 (1995), Iss. 4 : pp. 569–604
4 Citations (CrossRef)
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Fehr, Ernst
Zych, Peter K.
Cited By
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DELEGATIONSPROBLEME IN REPRÄSENTATIVEN DEMOKRATIEN
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2009
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2006
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2006
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Methodische Grundlagen
Weimann, Joachim
2006
https://doi.org/10.1007/3-540-28857-0_2 [Citations: 0]
Abstract
A common characteristic of many addictive activities seems to be that benefits accrue immediately and are relatively large whereas costs arise in the future and are distributed over many periods. It is hypothesized that the high amount and the immediate availability of benefits renders them highly salient while the distributivity and smallness of costs per period renders aggregate costs much less salient, giving rise to myopic excess consumption.
This paper reports the results of an experiment which allowed discriminating between the theory of rational addiction and the „myopic excess consumption" hypothesis. The results show a significant and systematic deviation from the optimal consumption path in the direction predicted by the excess consumption hypothesis.