Timed Individual Preference |
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Future characterization agent’s relation |
absent |
absent |
present |
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Present and future environment Individual factors to given preferences of choice |
Futures preferences (problem of time coherence of choice) |
“I” or “self” in the future |
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I D E A L I S M |
changes/evolution |
Known future situation marginal decreasing utility intertemporal elasticities of substitution. Present or predicted effects of constrains |
Changes of anticipated preferences, exogenous and endogenous. Fluctuations in preferences and needs along age, uses, addictions,, weakness |
Finite life time Changing of self means to disappear |
Doubt/risk Imperfect information or non complete |
Unknown or doubtful future situation. Anticipations, learning, believes revision, Attitude under risk (aversion, cautious) |
Doubts on future preferences Flexibility, reviewable preferences, non reversibility |
Uncertain life time Uncertainties on “self”, aleatory rule of survival |
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Ignoring unpredictable future |
Limited rationality : |
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Non idealism bias, opacity on future “self” |
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Temporal reference, ra-tional, objective, different from preferences |
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Source: nfm |
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