Discounting Models for Outcomes over Continuous Time

Publikation: Working paperForskning

Dokumenter

  • DP 11-12

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  • Charles M. Harvey
  • Lars Peter Østerdal
Events that occur over a period of time can be described either as sequences of outcomes at discrete times or as functions of outcomes in an interval of
time. This paper presents discounting models for events of the latter type. Conditions on preferences are shown to be satisfied if and only if the
preferences are represented by a function that is an integral of a discounting function times a scale defined on outcomes at instants of time.
OriginalsprogEngelsk
UdgiverDepartment of Economics, University of Copenhagen
Antal sider28
StatusUdgivet - apr. 2011
NavnUniversity of Copenhagen. Institute of Economics. Discussion Papers (Online)
Nummer12
Vol/bind2011
ISSN1601-2461

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