Mathematical Models for Intertemporal Choice

About this Research Topic

Background

In general, a wide variety of approaches are allowed in Mathematical Finance: one of them involves the implementation of mathematical models able to explain the complexity of real situations in Finance.
In particular, intertemporal choice is gaining the attention of researchers because of its increasing application to other fields - such as psychology or health. Obviously, every model presents logical mistakes (or gaps), and intertemporal choice is not an exception. This was shown in the recent Research Topic Intertemporal Choice and Its Anomalies (e-book available).

The objective of this Research Topic is to describe intertemporal choices as mathematical models, as general as possible, with the aim to cover all possible situations and analyze the properties which can be useful for decision makers.
Since most financial decisions include decision making over time, this Research Topic is aimed also at mathematical modeling of important anomalies such as Allais’ paradox (violation of von Neumann and Morgenstern’s independence axiom), mental accounting, and myopic loss aversion in behavioral finance (discovered by Nobel laureate Professor Richard H. Thaler and colleagues).
Also, in behavioral finance, Nobel laureate Professor Robert J. Schiller observed excessive volatility in comparison to streams of future dividends in the US stock markets, which reflects inefficiency in the market and irrationality in people who trade stocks. Mathematical models which have implications for these anomalies in the markets are also within a scope of this collection.
Furthermore, recent advances in neuroeconomics revealed the important roles of emotion in a decision over time and under uncertainty. Mathematical modeling studies of these findings are also welcome to be submitted.

Keywords: intertemporal choice, anomalies, behavioral finance, mathematical model, decision making

Important note: All contributions to this Research Topic must be within the scope of the section and journal to which they are submitted, as defined in their mission statements. Frontiers reserves the right to guide an out-of-scope manuscript to a more suitable section or journal at any stage of peer review.

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