Picoeconomics

DEVELOPERS

Ainslie 1992 - Picoeconomics

Ainslie & Haslam 1992 - Hyperbolic Discounting

BACKGROUND

"In its basic form, the theory is simple. We must choose from a variety of possible rewarding activities. In choosing among them, we have an innate tendency to inordinately undervalue future events. We tend, then, to put off tasks leading to distant but valuable goals in favor of ones with more immediate though lesser rewards. Inevitably, however, time marches on, and as the once-future events loom ever closer, we see their value more clearly. Eventually, we experience regret if we have irrationally put off pursuing this more valuable goal to the extent that it can no longer be realistically achieved." (Steel & Konig: 2006: 892)

REFERENCES ~ Coding Spreadsheet - Web View

• Ainslie, G. 1992. Picoeconomics: The strategic interaction of successive motivational states within the person. New York: Cambridge University Press.
• Ainslie, G., & Haslam, N. 1992. Hyperbolic discounting. In G. Loewenstein & J. Elster (Eds.), Choice over time: 57–92.
  • New York: Russell Sage Foundation.
• Steel, P, & Konig, C J. (2006). Integrating theories of motivation. Academy of Management. The Academy of Management Review, 31(4), 889.