MARC Record from marc_oapen

LEADER: 02878namaa2200505uu 450
001 http://library.oapen.org/handle/20.500.12657/30615
005 20200318
020 $a978-3-319-71924-5_23
024 7 $a10.1007/978-3-319-71924-5_23$cdoi
041 0 $aEnglish
042 $adc
072 7 $aU$2bicssc
100 1 $aAlbers, Susanne$4auth
700 1 $aKraft, Dennis$4auth
245 10 $aChapter The Price of Uncertainty in Present-Biased Planning
260 $bSpringer Nature$c2017
300 $a1 electronic resource (15 p.)
506 0 $aOpen Access$2star$fUnrestricted online access
520 $aThe tendency to overestimate immediate utility is a common cognitive bias. As a result people behave inconsistently over time and fail
to reach long-term goals. Behavioral economics tries to help affected individuals
by implementing external incentives. However, designing robust
incentives is often difficult due to imperfect knowledge of the parameter
β ∈ (0, 1] quantifying a person’s present bias. Using the graphical model
of Kleinberg and Oren [8], we approach this problem from an algorithmic
perspective. Based on the assumption that the only information about
β is its membership in some set B ⊂ (0, 1], we distinguish between two
models of uncertainty: one in which β is fixed and one in which it varies
over time. As our main result we show that the conceptual loss of effi-
ciency incurred by incentives in the form of penalty fees is at most 2
in the former and 1 + max B/ min B in the latter model. We also give
asymptotically matching lower bounds and approximation algorithms.
536 $aH2020 European Research Council
540 $aCreative Commons$fhttps://creativecommons.org/licenses/by/4.0/$2cc$4https://creativecommons.org/licenses/by/4.0/
546 $aEnglish
650 7 $aComputing & information technology$2bicssc
653 $abehavioral economics
653 $aincentive design
653 $aheterogeneous agents
653 $aapproximation algorithms
653 $avariable present bias
653 $apenalty fees
653 $abehavioral economics
653 $aincentive design
653 $aheterogeneous agents
653 $aapproximation algorithms
653 $avariable present bias
653 $apenalty fees
653 $aAlice and Bob
653 $aDecision problem
653 $aGraph theory
653 $aGraphical model
653 $aNP (complexity)
653 $aTime complexity
653 $aUpper and lower bounds
773 10 $0OAPEN Library ID: 644832$tWeb and Internet Economics$7nnaa
856 40 $awww.oapen.org$uhttps://library.oapen.org/bitstream/id/8b457a0e-ca7e-499c-9b3a-0586160e6751/644832.pdf$70$zOAPEN Library: download the publication
856 40 $awww.oapen.org$uhttp://library.oapen.org/handle/20.500.12657/30615$70$zOAPEN Library: description of the publication