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  • Article

No Evidence for an Effect of Testosterone Administration on Delay Discounting in Male University Students

By: Georgia Rada Ortner, Matthias Wibral, Anke Becker, Thomas Dohmen, Dietrich Klingmüller, Armin Falk and Bernd Weber
Intertemporal choices between a smaller sooner and a larger delayed reward are one of the most important types of decisions humans face in their everyday life. The degree to which individuals discount delayed rewards correlates with impulsiveness. Steep delay... View Details
Keywords: Delay Discounting; Impulsiveness; Intertemporal Choice; Testosterone; Decision Making; Behavior; Personal Characteristics
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  • 2023
  • Working Paper

Complexity and Hyperbolic Discounting

By: Benjamin Enke, Thomas Graeber and Ryan Oprea
A large literature shows that people discount financial rewards hyperbolically instead of exponentially. While discounting of money has been questioned as a measure of time preferences, it continues to be highly relevant in empirical practice and predicts a wide range... View Details
Keywords: Hyperbolic Discounting; Present Bias; Bounded Rationality; Cognitive Uncertainty; Behavioral Finance
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  • December 2018
  • Article

Cashback is Cash Forward: Delaying a Discount to Entice Future Spending

By: Prasad Vana, Anja Lambrecht and Marco Bertini
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  • 2005
  • Article

Early Decisions: A Regulatory Framework

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
We describe a regulatory framework that helps consumers who have difficulty sticking to their own long-run plans. Early Decision regulations help long-run preferences prevail by allowing consumers to partially commit to their long-run goals, making it harder for a... View Details
Keywords: Hyperbolic Discounting; Self-control; Commitment; Consumer Behavior; Taxation; Attitudes
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  • 14 Dec 2007
  • Op-Ed

When Your Product Becomes a Commodity

speed from launch to maturity is faster than ever before. Marketers can do three things to delay the inevitable forces of commoditization. Innovate. A new product that better meets consumer needs, even an upgrade of an existing product,... View Details
Keywords: by John Quelch
  • 2023
  • Working Paper

Cognitive Uncertainty in Intertemporal Choice

By: Benjamin Enke and Thomas Graeber
This paper studies the relevance of cognitive uncertainty – subjective uncertainty over one's utility-maximizing action – for understanding and predicting intertemporal choice. The main idea is that when people are cognitively noisy, such as when a decision is complex,... View Details
Keywords: Cognitive Uncertainty; Intertemporal Choice; Cognition and Thinking; Complexity; Decision Choices and Conditions
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  • October 2001
  • Exercise

Liability Problems

By: Robert S. Kaplan
This case provides three examples of the recognition and measurement of liabilities. The first focuses on recognizing when employees have rendered services for which future period benefits have been earned, that is, whether unused vacation, sick, and personal days at... View Details
Keywords: Cash; Annuities; Interest Rates; Compensation and Benefits; Employees; Wages; Problems and Challenges; Value
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  • 2024
  • Working Paper

Fire Sales of Safe Assets

By: Gabor Pinter, Emil Siriwardane and Danny Walker
We use trade-level data to study price pressure effects in the UK gilt market from September to October 2022. During this period, forced sales by liability-driven investment funds (LDIs) led to price discounts on the order of 10%, accounting for roughly half the total... View Details
Keywords: Investment Funds; Capital Markets; United Kingdom
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  • 24 Mar 2008
  • Research & Ideas

Reducing Risk with Online Advertising

But even something as simple as how quickly a supplier is paid could be an important strategic decision. Paying more quickly might offer a benefit sometimes—consider a cash-strapped supplier that really needs the money and will offer a big View Details
Keywords: by Martha Lagace; Video Game; Web Services
  • 2020
  • Working Paper

Targeting for Long-Term Outcomes

By: Jeremy Yang, Dean Eckles, Paramveer Dhillon and Sinan Aral
Decision makers often want to target interventions so as to maximize an outcome that is observed only in the long term. This typically requires delaying decisions until the outcome is observed or relying on simple short-term proxies for the long-term outcome. Here we... View Details
Keywords: Targeted Marketing; Optimization; Churn Management; Marketing; Customer Relationship Management; Policy; Learning; Outcome or Result
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  • Web

Students on the Job Market - Doctoral

valuation, such as context effects, preference reversals, and apparent probability weighting and hyperbolic discounting in valuations, can be understood as responses to comparison complexity. We test our model experimentally by varying... View Details
  • 16 Jul 2007
  • Research & Ideas

Understanding the ‘Want’ vs. ’Should’ Decision

analyzed a year of individual-level data from a North American online grocer to determine how the delay between when a person's order was completed and when it was delivered affected the content of the order. In general, as the View Details
Keywords: by Sarah Jane Gilbert; Retail; Entertainment & Recreation
  • 20 Dec 2017
  • Lessons from the Classroom

How to Design a Better Customer Experience

customer’s champion and own the problem. “We landed after a delayed 12-hour flight and learned that our connecting flight was gone. Our expectations were low because we flew on a mileage ticket from American Express. The airline agent... View Details
Keywords: by Dina Gerdeman; Health; Entertainment & Recreation
  • 22 Jul 2002
  • Research & Ideas

Is Performance-Based Pricing the Right Price for You?

important ones. But, some limited variants can also be useful. "Point" guarantees such as penalty clauses which involve a discount when delivery is late are a simple form of performance-based pricing. Penalty clauses are... View Details
Keywords: by Benson Shapiro; Manufacturing
  • 26 Nov 2001
  • Op-Ed

Why Corporate Budgeting Needs To Be Fixed

for example) or by moving future revenues to the present (booking orders early or offering special discounts to customers, for example). If, on the other hand, the manager concludes that she can't make the minimum hurdle, her incentives... View Details
Keywords: by Michael C. Jensen
  • 19 Oct 2021
  • Research & Ideas

Fed Up Workers and Supply Woes: What's Next for Dollar Stores?

data. But higher costs for materials, manufacturing, shipping and trucking, and COVID safety measures, coupled with unprecedented competition for workers, are testing the endurance of retailers, especially those who rely heavily on cheap imports from Asia, like the... View Details
Keywords: by Christine Pazzanese, Harvard Gazette; Retail
  • 01 Mar 2016
  • News

Faculty Q&A: Price Check

inventory. The problem with that is you might have strategic consumers who delay their purchase of a pair of sandals, for example, to take advantage of the discounted price. Whereas if you didn’t use a... View Details
Keywords: Julia Hanna; Nonstore Retailers; Retail Trade
  • Web

Program Policies - HBS Online

Exceptions Participant Discount Learning Requirements Course Platform Certificate Programs Participants are expected to fully complete all work on the course platform in English in a thoughtful and timely manner. This means completing... View Details
  • 07 Oct 2011
  • News

Tea’s Time

landed a job at Siebel Systems out of HBS, Rawdon was well on her way to building a portfolio of professional experiences that would, she felt, improve her chances of successfully launching a business. Within a few weeks, however, she knew she couldn’t View Details
Keywords: Clothing and Clothing Accessories Stores; Retail Trade
  • 16 Jul 2001
  • Research & Ideas

How to Compete Like a Judo Strategist

"If you're going to have to face the music eventually, why wait?" Pottruck and his team made the tough decision to cannibalize their successful discount brokerage business in favor of Internet trading and ultimately integrated... View Details
Keywords: by David B. Yoffie & Mary Kwak