Alleviating Time Inconsistent Behaviors via a Competition Scheme

doi:10.1002/nav.21765

CORC > 上海财经大学 > 上海财经大学

	Alleviating Time Inconsistent Behaviors via a Competition Scheme
	Cui, Xiangyu 1; Shi, Yun 2; Xu, Lu 3
刊名	NAVAL RESEARCH LOGISTICS
	2017-08
卷号	64 期号:5 页码:357-372
关键词	game theory time inconsistency quasi-hyperbolic discounting present bias winner-takes-all competition
ISSN号	0894-069X
DOI	10.1002/nav.21765
英文摘要	Under quasi-hyperbolic discounting, the valuation of a payoff falls relatively rapidly for earlier delay periods, but then falls more slowly for longer delay periods. When the salespersons with quasi-hyperbolic discounting consider the product sale problem, they would exert less effort than their early plan, thus resulting in losses of future profit. We propose a winner-takes-all competition to alleviate the above time inconsistent behaviors of the salespersons, and allow the company to maximize its revenue by choosing an optimal bonus. To evaluate the effects of the competition scheme, we define the group time inconsistency degree of the salespersons, which measures the consequence of time inconsistent behaviors, and two welfare measures, the group welfare of the salespersons and the company revenue. We show that the competition always improves the group welfare and the company revenue as long as the company chooses to run the competition in the first place. However, the effect on group time inconsistency degree is mixed. When the optimal bonus is moderate (extreme high), the competition motivates (over-motivates) the salesperson to work hard, thus alleviates (worsens) the time inconsistent behaviors. (C) 2017 Wiley Periodicals, Inc
WOS研究方向	Operations Research & Management Science
语种	英语
出版者	WILEY
WOS记录号	WOS:000414375900001
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/926]
专题	上海财经大学
通讯作者	Shi, Yun
作者单位	1.Shanghai Univ Finance & Econ, Sch Stat & Management, Shanghai, Peoples R China; 2.Shanghai Univ, Sch Management, Shanghai, Peoples R China; 3.Shanghai Univ Finance & Econ, Sch Stat & Management, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Cui, Xiangyu,Shi, Yun,Xu, Lu. Alleviating Time Inconsistent Behaviors via a Competition Scheme[J]. NAVAL RESEARCH LOGISTICS,2017,64(5):357-372.
APA	Cui, Xiangyu,Shi, Yun,&Xu, Lu.(2017).Alleviating Time Inconsistent Behaviors via a Competition Scheme.NAVAL RESEARCH LOGISTICS,64(5),357-372.
MLA	Cui, Xiangyu,et al."Alleviating Time Inconsistent Behaviors via a Competition Scheme".NAVAL RESEARCH LOGISTICS 64.5(2017):357-372.