%0 Report
        %A Manzini, Paola
%A Mariotti, Marco
        %T A Vague Theory of Choice over Time
        %D 2004
        %8 2004 Jul
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 1228
        %U https://www.iza.org/index.php/publications/dp1228
        %X We propose a novel approach to modelling time preferences, based on a cognitive
shortcoming of human decision makers: the perception of future events becomes
increasingly ‘blurred’ as the events are pushed further in time. We axiomatise a class of
preference representations which can be specialised to rationalise ‘anomalies’ such as
preference reversals and cyclical preferences. We also present an application to a form of
time inconsistency which we dub ‘the now or never fallacy’.
        %K hyperbolic discounting
%K time preferences
%K intransitive preferences
%K preference reversal
%K cycles