@article{THESIS,
      recid = {12370},
      author = {Jang, Minkwang},
      title = {Inconsistencies in Consumer Intertemporal Decisions and  Marketplace Inferences},
      publisher = {University of Chicago},
      school = {Ph.D.},
      address = {2024-06},
      number = {THESIS},
      pages = {162},
      abstract = {This dissertation is comprised of three distinct works of  research that investigate inconsistencies in people’s  judgments and decisions with the goal of deriving insights  that can inform our understanding of how people make  economic decisions. The first two chapters focus on  intertemporal choice, while the third chapter examines  people’s marketplace inferences. The first and second  chapters evaluate the common assumptions in the existing  time discounting literature and propose new accounts for  how consumers make intertemporal choices that can explain  behaviors that deviate from the predictions of traditional  time discounting models. Specifically, the first chapter  examines how consumers’ subjective financial periods—the  idiosyncratic time categories they use to manage their  financial goals—affect their intertemporal choice over  financial benefits. Consumers are more impatient when  choosing between options that are in different subjective  financial periods than when choosing between options within  the same subjective period. This leads them to exhibit  time-inconsistent preferences, which have commonly been  attributed to present bias in prior research. The second  chapter documents how consumers’ impatience to receive  progress signals—actions or events that provide information  about the progress of delayed rewards—separately from their  impatience to receive the actual rewards, affects their  intertemporal choice. Holding reward timings constant,  people exhibit higher impatience for options that offer  sooner progress signals, which offer sooner uncertainty  reduction. This phenomenon is not well-accommodated within  the traditional time discounting framework, which assumes  that consumers’ choices are based on the valuation of the  rewards as a function of their timing. The last chapter  examines how people compare different people's liking of an  option based on their consideration sets, specifically the  size of the sets (i.e., the number of items included in the  consideration set). People infer that a consumer with a  smaller consideration set likes an option in the set more  than another consumer with a larger consideration set that  includes the same option. However, this inference is  subject to change depending on how salient the  superordinate category structure of the options is.},
      url = {http://knowledge.uchicago.edu/record/12370},
      doi = {https://doi.org/10.6082/uchicago.12370},
}