Value Functions for Infinite-Period Planning

DOI10.1287/MNSC.32.9.1123MaRDI QIDQ3738868zbMATH OpenOpenAlexFDO

Authors Charles M. Harvey

Publication date 1986

Published in Management Science (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1287/mnsc.32.9.1123

zbMATH Keywords

Cost-benefit and risk analysisdiscountingmodeling tradeoffs between different periodsvalue functions

Mathematics Subject Classification ID

Decision theory (91B06) Utility theory (91B16) Economic growth models (91B62)

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Cited in

(37)

• Non-hyperbolic time inconsistency
• Absolute and relative time-consistent revealed preferences
• Cost-benefit analysis with switching regimes: An application of the theory of planning
• Intertemporal objective functions: strong Pareto versus anonymity
• Time preference for health: a test of stationarity versus decreasing timing aversion
• Weighted temporal utility
• A rank-dependent utility model of uncertain lifetime
• A generalization of the \(q\)-exponential discounting function
• Hyperbolic discounting of the far-distant future
• Comparing uncertainty aversion towards different sources
• Weighted discounting -- on group diversity, time-inconsistency, and consequences for investment
• Expected discounted utility
• Non-stationary additive utility and time consistency
• Trichotomic discounted utility
• On the neoclassical growth model with non-constant discounting
• A simple framework for the axiomatization of exponential and quasi-hyperbolic discounting
• A power law type of time preference on intertemporal choices
• An anticipative hyperbolic discount utility on intertemporal decision making
• A powerful tool for analyzing concave/convex utility and weighting functions
• Non-hyperbolic discounting and dynamic preference reversal
• Koopmans' constant discounting for intertemporal choice: A simplification and a generalization
• A new argument in favor of hyperbolic discounting in very long term project appraisal
• Relative concave utility for risk and ambiguity
• Valuing the future: a MADA example involving nuclear waste storage
• Discounting models for outcomes over continuous time
• Social discounting and the long rate of interest
• On discount, temporal justice, sustainability and limited foresight
• Proportional Discounting of Future Costs and Benefits
• Intertemporal choice with continuity constraints
• Decision making when things are only a matter of time
• How innocuous is it to approximate globally decreasing impatience with quasi-hyperbolic discounting?
• New discounting functions
• Optimal Stopping for Exponential Lévy Models with Weighted Discounting
• A simple and general axiomatization of average utility maximization for infinite streams
• Utility independence of multiattribute utility theory is equivalent to standard sequence invariance of conjoint measurement
• NPV, IRR, PI, PP, and DPP: a unified view
• The hyperbolic factor: a measure of time inconsistency

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