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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How Far Ahead Do People Plan? (deposited 17 Nov 2009 14:52)
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