Modeling nonmonotone preferences: the case of utility smoothing

DOI10.1016/J.JMATECO.2011.02.004MaRDI QIDQ553532zbMATH OpenOpenAlexFDO

Authors Katsutoshi Wakai

Publication date 27 July 2011

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2011.02.004

zbMATH Keywords

discount factorgain/loss asymmetrynon-monotone preferencesrecursive utilityreference pointutility smoothing

Mathematics Subject Classification ID

Utility theory (91B16)

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.

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Cites work

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Cited in

(9)

• Non-transitive smooth preferences
• An infinite-horizon model of nonmonotone utility smoothing
• Intertemporal utility smoothing under uncertainty
• An intertemporal consumption-leisure model with non-expected utility
• Characterization of variation averse preferences by present value
• Gain/loss asymmetric stochastic differential utility
• A monotone model of intertemporal choice
• scientific article; zbMATH DE number 956506 (Why is no real title available?)
• A Model of Utility Smoothing

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