How Far Ahead Do People Plan?

Hey, John D. and Knoll, Julia A. (2006) How Far Ahead Do People Plan? [Discussion Paper]. p. 12. Discussion Papers in Economics (No. 06/17).

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We report on a simple experiment which enables us to infer how far people plan ahead when taking decisions in a dynamic risky context. Usually economic theory assumes that people plan right to the end of the planning horizon. We find that this is true for a little over half of the subjects in the experiment, while a little under one half seem not to plan ahead at all.

Item Type: Report / Paper (Discussion Paper)
Research documents and activity classification: Working Papers > Refereed Working Papers / of international relevance
Divisions: Department of Business and Management
Additional Information: The paper has been published as: Hey, John D. & Knoll, Julia A., 2007. "How far ahead do people plan?," Economics Letters, Elsevier, vol. 96(1), pages 8-13, July.
Uncontrolled Keywords: Planning; Dominance; Myopia; Naivety; Sophistication
MIUR Scientific Area: Area 13 - Economics and Statistics > SECS-P/01 Political Economy
Deposited by: Maria Teresa Nistico
Date Deposited: 06 Dec 2010 15:11
Last Modified: 21 Apr 2015 23:13

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