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Stochastic dynamic utilities and intertemporal preferences
Mathematics and Financial Economics ( IF 1.6 ) Pub Date : 2021-01-21 , DOI: 10.1007/s11579-020-00290-x
Marco Maggis , Andrea Maran

We propose an axiomatic approach which economically underpins the representation of dynamic intertemporal decisions in terms of a utility function, which randomly reacts to the information available to the decision maker throughout time. Our construction is iterative and based on time dependent preference connections, whose characterization is inspired by the original intuition given by Debreu’s State Dependent Utilities (1960).



中文翻译:

随机动态效用和跨期偏好

我们提出了一种公理化的方法,该方法从效用函数的角度上经济地支持了动态时态决策的表示,该函数对整个决策者可用的信息进行随机反应。我们的构造是迭代的,并基于与时间相关的偏好连接,其特征是受Debreu的State Dependent Utilities(1960)给出的原始直觉启发的。

更新日期:2021-01-21
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