An attractor model of intertemporal choice

Date

Apr 13, 2017

Time

4:00 PM - 5:00 PM

Speaker

Jun.-Prof. Stefan Scherbaum

Affiliation

TUD, Methoden der Psychologie

Series

TUD NIC Kolloquium

Language

en

Main Topic

Psychologie

Other Topics

Psychologie

Description

Many everyday choices involve options that pose a conflict between immediate, but small gains, and delayed, but larger or more beneficial gains. This conflict occurs on many time scales. For example, one might wonder whether to enjoy the pleasures of spending your money now or to save it for pension. Or one might be seduced to take the hearty burger – that is immediately very tasty - instead of the light salad – which might be better for your figure in the long-term. While research usually focusses on identifying determinants of such intertemporal choices, the work in my group focusses on how the underlying system dynamics interact on different time scales: the dynamics leading to a choice, the dynamics from decision to decision and the dynamics across several decisions. I will present an attractor model of intertemporal choice that predicts patterns on different scales. I will present studies that provide for such patterns in human choice behavior.

Links

• Livestream

Last modified: May 4, 2017, 1:23:05 PM