Dynamic Choice Theory and Dynamic Programming

DOI10.2307/1912348MaRDI QIDQ3964279zbMATH OpenOpenAlexFDO

Authors David M. Kreps, Evan L. Porteus

Publication date 1979

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/1912348

zbMATH Keywords

dynamic choice theorydynamic programmingfinite horizon sequential decision problemsoptimal Markovian strategies

Mathematics Subject Classification ID

Dynamic programming (90C39) Markov and semi-Markov decision processes (90C40) Decision theory (91B06)

Cited in

(10)

• Risk aversion and the elasticity of substitution in general dynamic portfolio theory: consistent planning by forward looking, expected utility maximizing investors
• Conditions for characterizing the structure of optimal strategies in infinite-horizon dynamic programs
• Temporal von Neumann-Morgenstern and induced preferences
• Conditional decision processes with recursive function
• Supporting others and the evolution of influence.
• Nonrecursive separation of risk and time preferences
• Conditional certainty equivalent
• Finite-stage stochastic decision processes with recursive reward structure I: optimality equations and deterministic strategies
• Long-term dynamic asset allocation under asymmetric risk preferences
• Temporal risk and the nature of induced preferences

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