Back
0

Temporal Logic of Time Preferences (TLTP)

Description: Temporal Logic of Time Preferences (TLTP) is a branch of logic that deals with the formalization of preferences over time. It is used to study how people make decisions about future events, and how their preferences change over time.
Number of Questions: 14
Created by:
Tags: temporal logic time preferences decision theory
Start the Quiz
Attempted 0/14 Correct 0 Score 0
‹
›

Which of the following is a basic axiom of TLTP?

  1. Transitivity

  2. Reflexivity

  3. Symmetry

  4. Completeness

Show answer
Correct Option: A
Explanation:

Transitivity means that if a person prefers A to B and B to C, then they must also prefer A to C.

What is the difference between a weak preference and a strict preference?

  1. A weak preference is stronger than a strict preference.

  2. A strict preference is stronger than a weak preference.

  3. There is no difference between a weak preference and a strict preference.

  4. The difference depends on the context.

Show answer
Correct Option: B
Explanation:

A strict preference means that a person prefers one option to another without any hesitation. A weak preference means that a person prefers one option to another, but they are indifferent between the two options.

What is the temporal discounting function?

  1. A function that maps delays to preference weights.

  2. A function that maps preference weights to delays.

  3. A function that maps delays to indifference curves.

  4. A function that maps indifference curves to delays.

Show answer
Correct Option: A
Explanation:

The temporal discounting function is a function that maps delays to preference weights. The preference weight is a number that represents how much a person prefers an outcome at a given delay to an outcome at the present time.

What is the hyperbolic discounting function?

  1. A temporal discounting function that is linear.

  2. A temporal discounting function that is exponential.

  3. A temporal discounting function that is hyperbolic.

  4. A temporal discounting function that is logarithmic.

Show answer
Correct Option: C
Explanation:

The hyperbolic discounting function is a temporal discounting function that is hyperbolic. This means that the preference weight for an outcome decreases more rapidly at short delays than at long delays.

What is the exponential discounting function?

  1. A temporal discounting function that is linear.

  2. A temporal discounting function that is exponential.

  3. A temporal discounting function that is hyperbolic.

  4. A temporal discounting function that is logarithmic.

Show answer
Correct Option: B
Explanation:

The exponential discounting function is a temporal discounting function that is exponential. This means that the preference weight for an outcome decreases exponentially with the delay.

What is the quasi-hyperbolic discounting function?

  1. A temporal discounting function that is a combination of the hyperbolic and exponential discounting functions.

  2. A temporal discounting function that is a combination of the linear and exponential discounting functions.

  3. A temporal discounting function that is a combination of the hyperbolic and logarithmic discounting functions.

  4. A temporal discounting function that is a combination of the linear and logarithmic discounting functions.

Show answer
Correct Option: A
Explanation:

The quasi-hyperbolic discounting function is a temporal discounting function that is a combination of the hyperbolic and exponential discounting functions. This means that the preference weight for an outcome decreases hyperbolically at short delays and exponentially at long delays.

What is the present-biased discounting function?

  1. A temporal discounting function that gives more weight to outcomes that occur in the present than to outcomes that occur in the future.

  2. A temporal discounting function that gives more weight to outcomes that occur in the future than to outcomes that occur in the present.

  3. A temporal discounting function that gives equal weight to outcomes that occur in the present and to outcomes that occur in the future.

  4. A temporal discounting function that gives more weight to outcomes that occur in the past than to outcomes that occur in the present or the future.

Show answer
Correct Option: A
Explanation:

The present-biased discounting function is a temporal discounting function that gives more weight to outcomes that occur in the present than to outcomes that occur in the future. This means that people are more likely to choose an outcome that occurs in the present, even if it is less valuable than an outcome that occurs in the future.

What is the future-biased discounting function?

  1. A temporal discounting function that gives more weight to outcomes that occur in the present than to outcomes that occur in the future.

  2. A temporal discounting function that gives more weight to outcomes that occur in the future than to outcomes that occur in the present.

  3. A temporal discounting function that gives equal weight to outcomes that occur in the present and to outcomes that occur in the future.

  4. A temporal discounting function that gives more weight to outcomes that occur in the past than to outcomes that occur in the present or the future.

Show answer
Correct Option: B
Explanation:

The future-biased discounting function is a temporal discounting function that gives more weight to outcomes that occur in the future than to outcomes that occur in the present. This means that people are more likely to choose an outcome that occurs in the future, even if it is less valuable than an outcome that occurs in the present.

What is the time-consistent discounting function?

  1. A temporal discounting function that is constant over time.

  2. A temporal discounting function that is increasing over time.

  3. A temporal discounting function that is decreasing over time.

  4. A temporal discounting function that is random over time.

Show answer
Correct Option: A
Explanation:

The time-consistent discounting function is a temporal discounting function that is constant over time. This means that the preference weight for an outcome does not change over time.

What is the dynamic inconsistency of time preferences?

  1. The tendency for people's preferences to change over time.

  2. The tendency for people's preferences to be inconsistent with their actions.

  3. The tendency for people's preferences to be inconsistent with each other.

  4. The tendency for people's preferences to be inconsistent with their beliefs.

Show answer
Correct Option: A
Explanation:

The dynamic inconsistency of time preferences is the tendency for people's preferences to change over time. This means that people may prefer one outcome at one point in time and a different outcome at a later point in time.

What is the self-control problem?

  1. The problem of choosing an outcome that is in one's long-term best interest, even when there is a more tempting outcome available in the short term.

  2. The problem of choosing an outcome that is in one's short-term best interest, even when there is a more tempting outcome available in the long term.

  3. The problem of choosing an outcome that is in one's best interest, even when there is a more tempting outcome available in the present.

  4. The problem of choosing an outcome that is in one's best interest, even when there is a more tempting outcome available in the future.

Show answer
Correct Option: A
Explanation:

The self-control problem is the problem of choosing an outcome that is in one's long-term best interest, even when there is a more tempting outcome available in the short term. This problem arises because people tend to be present-biased, meaning that they give more weight to outcomes that occur in the present than to outcomes that occur in the future.

What is the hyperbolic discounting bias?

  1. The tendency for people to discount future outcomes more heavily than present outcomes.

  2. The tendency for people to discount present outcomes more heavily than future outcomes.

  3. The tendency for people to discount outcomes that are certain more heavily than outcomes that are uncertain.

  4. The tendency for people to discount outcomes that are uncertain more heavily than outcomes that are certain.

Show answer
Correct Option: A
Explanation:

The hyperbolic discounting bias is the tendency for people to discount future outcomes more heavily than present outcomes. This means that people are more likely to choose an outcome that occurs in the present, even if it is less valuable than an outcome that occurs in the future.

What is the exponential discounting bias?

  1. The tendency for people to discount future outcomes more heavily than present outcomes.

  2. The tendency for people to discount present outcomes more heavily than future outcomes.

  3. The tendency for people to discount outcomes that are certain more heavily than outcomes that are uncertain.

  4. The tendency for people to discount outcomes that are uncertain more heavily than outcomes that are certain.

Show answer
Correct Option: A
Explanation:

The exponential discounting bias is the tendency for people to discount future outcomes more heavily than present outcomes. This means that people are more likely to choose an outcome that occurs in the present, even if it is less valuable than an outcome that occurs in the future.

What is the quasi-hyperbolic discounting bias?

  1. The tendency for people to discount future outcomes more heavily than present outcomes at short delays, but to discount future outcomes less heavily than present outcomes at long delays.

  2. The tendency for people to discount present outcomes more heavily than future outcomes at short delays, but to discount present outcomes less heavily than future outcomes at long delays.

  3. The tendency for people to discount outcomes that are certain more heavily than outcomes that are uncertain at short delays, but to discount outcomes that are certain less heavily than outcomes that are uncertain at long delays.

  4. The tendency for people to discount outcomes that are uncertain more heavily than outcomes that are certain at short delays, but to discount outcomes that are uncertain less heavily than outcomes that are certain at long delays.

Show answer
Correct Option: A
Explanation:

The quasi-hyperbolic discounting bias is the tendency for people to discount future outcomes more heavily than present outcomes at short delays, but to discount future outcomes less heavily than present outcomes at long delays. This means that people are more likely to choose an outcome that occurs in the present, even if it is less valuable than an outcome that occurs in the future, but this tendency decreases as the delay between the present and the future outcome increases.

- Hide questions
ADVERTISEMENT

Find more quizzes from top tags

general knowledge
3615 Quizzes
119858 Questions
 technology
307 Quizzes
36705 Questions
 sports
963 Quizzes
19148 Questions
 history
1187 Quizzes
13475 Questions
 physics
598 Quizzes
13441 Questions
 biology
1160 Quizzes
12174 Questions
 science & technology
551 Quizzes
11015 Questions
 chemistry
490 Quizzes
9892 Questions
 maths
518 Quizzes
9324 Questions
 softskills
0 Quizzes
7131 Questions