Modeling nonmonotone preferences: the case of utility smoothing (Q553532): Difference between revisions
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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. | |||
| Property / review text: 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. / rank | |||
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| Property / reviewed by | |||
| Property / reviewed by: Krzysztof Piasecki / rank | |||
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| Property / Mathematics Subject Classification ID | |||
| Property / Mathematics Subject Classification ID: 91B16 / rank | |||
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| Property / zbMATH DE Number | |||
| Property / zbMATH DE Number: 5933157 / rank | |||
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| Property / zbMATH Keywords | |||
discount factor | |||
| Property / zbMATH Keywords: discount factor / rank | |||
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| Property / zbMATH Keywords | |||
gain/loss asymmetry | |||
| Property / zbMATH Keywords: gain/loss asymmetry / rank | |||
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| Property / zbMATH Keywords | |||
non-monotone preferences | |||
| Property / zbMATH Keywords: non-monotone preferences / rank | |||
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recursive utility | |||
| Property / zbMATH Keywords: recursive utility / rank | |||
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| Property / zbMATH Keywords | |||
reference point | |||
| Property / zbMATH Keywords: reference point / rank | |||
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| Property / zbMATH Keywords | |||
utility smoothing | |||
| Property / zbMATH Keywords: utility smoothing / rank | |||
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Revision as of 13:12, 1 July 2023
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Modeling nonmonotone preferences: the case of utility smoothing |
scientific article |
Statements
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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