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dc.contributor.authorCruz Rambaud, Salvador
dc.contributor.authorOrtiz Fernández, Piedad
dc.date.accessioned2021-01-11T11:08:20Z
dc.date.available2021-01-11T11:08:20Z
dc.date.issued2020-12-29
dc.identifier.issn2073-8994
dc.identifier.urihttp://hdl.handle.net/10835/9276
dc.description.abstractTraditionally, the interval and delay effects have been identified and considered as the same anomaly in the context of intertemporal choice, when individuals or groups of individuals make their decisions about reward preferences. This has supposed that most studies on this topic have been focused on the delay effect and, consequently, that the discount functions provided by the existing literature have considered only this effect. This is the case of hyperbolic discounting, which has been used to describe the delay, but not the interval effect. Therefore, the main objective of this paper is to carry out a detailed analysis of both anomalies, which will allow us to mathematically relate them, thus finding their analogies and differences. To do this, we will first analyze the concept of delay effect and later the different definitions of the interval effect. The main conclusion of this paper is twofold. On the one hand, if the benchmark for valuation is fixed, the delay effect coincides with the so-called decreasing interval effect. On the other hand, if the assessment reference point is the beginning of each interval, both anomalies are different. These findings make necessary to redefine the concept of interval effect. Finally, we will analyze the relationship between the interval effect, the delay effect and the subadditivityes_ES
dc.language.isoenes_ES
dc.publisherMDPIes_ES
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internacional*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectinterval effectes_ES
dc.subjectdelay effectes_ES
dc.subjectimpatiencees_ES
dc.subjectdiscount functiones_ES
dc.subjectsubadditivityes_ES
dc.subjectmanagerial decision makinges_ES
dc.titleAre Delay and Interval Effects the Same Anomaly in the Context of Intertemporal Choice in Finance?es_ES
dc.typeinfo:eu-repo/semantics/articlees_ES
dc.relation.publisherversionhttps://www.mdpi.com/2073-8994/13/1/41es_ES
dc.rights.accessRightsinfo:eu-repo/semantics/openAccesses_ES


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Attribution-NonCommercial-NoDerivatives 4.0 Internacional
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 Internacional