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Economic Equilibrium In Intertemporal Choices - Example Papers

Economic Equilibrium In Intertemporal Choices

Intertemporal Choice

Intertemporal choices are things that have benefits and costs that are not immediate. They are spread out over time, and they are important. Often times, these are fairly common choices such as whether to have children, or which house to buy. Obviously, these are choices that have long-term implications. Children are a lifetime investment, and a house is often a lifetime investment as well.
According to the article "Intertemporal Choice" by George Loewenstein and Richard H. Thaler (1989), these choices are particularly interesting when looked at from an economic perspective. This is due to the fact that many economic theories have difficulty in testing the ...

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until they felt they were getting a better deal.
This question is significant because the economy as a whole is affected by what individuals do with their money. In other words, if the economy is in a recession like the one we had recently many people are hanging onto their money, and therefore businesses and others who rely on consumer spending look for ways to encourage individuals to part with their money. This was largely the reason why many car companies began to offer 0 percent financing, and why interest rates for important long-term investments such as home loans came down so drastically. It was an effort to stimulate consumer spending, and thus boost the economy. One only has to look at offers such as the ones made by car companies and lending institutions to see the significance of the research question.
In order to study this particular research question, the authors looked at many different factors such as the return that people could get on their investments, ...

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Economic Equilibrium In Intertemporal Choices. (2015, November 6). Retrieved March 29, 2024, from http://www.essayworld.com/essays/Economic-Equilibrium-In-Intertemporal-Choices/105167
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PAPER DETAILS
Added: 11/6/2015 04:08:19 AM
Category: Economics
Type: Premium Paper
Words: 667
Pages: 3

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