About this item
?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. This is the first book 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 highly recommended not only to general readers who seek to learn how to attain better self-regulation under the self-control problem. It is also valuable to researchers who seek an overview of positive and normative implications of hyperbolic discounting to reconstruct economic theory for a better understanding of actual human behavior and the resulting economic dynamics. The original Japanese version, published in 2012, was awarded the 55th Nikkei Prize for Excellent Books in Economic Science. The Korean translation was published in June 2013.
Genre: Business + Money Management
Sub-Genre: Economics / General
Series Title: Advances in Japanese Business and Economics
Publisher: Springer Verlag
Author: Shinsuke Ikeda
Street Date: March 2, 2016
Item Number (DPCI): 248-15-2109
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