Modeling nonmonotone preferences: the case of utility smoothing (Q553532): Difference between revisions
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Revision as of 00:37, 5 March 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Modeling nonmonotone preferences: the case of utility smoothing |
scientific article |
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Modeling nonmonotone preferences: the case of utility smoothing (English)
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27 July 2011
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The author presents an axiomatic model of intertemporal choice in which a strong dislike of volatility involved in a utility sequence causes preferences to be non-monotone. The obtained model is applied to a consumption-saving problem.
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discount factor
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gain/loss asymmetry
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non-monotone preferences
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recursive utility
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reference point
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utility smoothing
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