The framework of this paper is behavioral finance and, more specifically, the analysis of the main anomalies (delay, magnitude and sign effects) present in the processes of intertemporal choice. To the extent of our knowledge, only the delay effect (also known as decreasing impatience) has been discriminated between moderately and strongly decreasing impatience. However, taking into account that anomalies must be explained from a psychological point of view, the main objective of this paper is to relate the aforementioned paradoxes with the four categories of temperaments (artisan, guardian, idealist and rational) by using the sixteen personality types derived from the Myers–Briggs Type Indicator and the Behavioral Investor Types. To do this, we will use the Analytic Hierarchy Process methodology in order to detect the different levels of impatience through the so-called hyperbolic factor. Indeed, the main contribution of this paper refers to an empirical application which complements the theoretical analysis.

A behavioral approach to inconsistencies in intertemporal choices with the Analytic Hierarchy Process methodology

Ventre Viviana;Martino Roberta;Maturo Fabrizio
2022

Abstract

The framework of this paper is behavioral finance and, more specifically, the analysis of the main anomalies (delay, magnitude and sign effects) present in the processes of intertemporal choice. To the extent of our knowledge, only the delay effect (also known as decreasing impatience) has been discriminated between moderately and strongly decreasing impatience. However, taking into account that anomalies must be explained from a psychological point of view, the main objective of this paper is to relate the aforementioned paradoxes with the four categories of temperaments (artisan, guardian, idealist and rational) by using the sixteen personality types derived from the Myers–Briggs Type Indicator and the Behavioral Investor Types. To do this, we will use the Analytic Hierarchy Process methodology in order to detect the different levels of impatience through the so-called hyperbolic factor. Indeed, the main contribution of this paper refers to an empirical application which complements the theoretical analysis.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11591/484128
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