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4. (Lehr #6.10) Shockingly Bad Timing (Loewenstein 1987). Consider the timing of a future bad outcome (v 4. (Lehr #6.10) Shockingly Bad Timing (Loewenstein 1987).
4. (Lehr #6.10) Shockingly Bad Timing (Loewenstein 1987). Consider the timing of a future bad outcome (v
4. (Lehr #6.10) Shockingly Bad Timing (Loewenstein 1987). Consider the timing of a future bad outcome (v < 0), like receiving a non-lethal, but strong electric shock. Figure 6.6 shows two possible plots ofU(T, v), as given by equation (6.8). (6.8) Periods Outcome is Delayed, T 12 15 a. Figure 6.6 Anticipatory Utility of a Bad in Exercise 6.10 Consider the two curves. ii. If U(T, v) looks like curve C, when is the optimal time T to receive the shock? If U(T, v) looks like curve D, when is the optimal time T to receive the shock?
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