History-dependent random discounting

Youichiro Higashi, Kazuya Hyogo, Norio Takeoka

研究成果

抄録

In the literature of dynamic models under uncertainty, it is commonly assumed that uncertainty is resolved gradually over time and its resolution is independent of the actions taken by a decision maker up to that time period. However, contingencies in the decision maker's mind may change and even increase over time according to habits that have evolved by experiences, actions, or consumptions in the past. We provide an axiomatic model where the decision maker faces uncertainty about her own time preference or discount factors in future and these uncertainty may evolve according to histories or habits from the past consumption.

本文言語English
ホスト出版物のタイトルNumerical Analysis and Applied Mathematics - International Conference on Numerical Analysis and Applied Mathematics 2009, ICNAAM-2009
ページ965-968
ページ数4
DOI
出版ステータスPublished - 2009
イベントInternational Conference on Numerical Analysis and Applied Mathematics 2009, ICNAAM-2009 - Rethymno, Crete
継続期間: 9月 18 20099月 22 2009

出版物シリーズ

名前AIP Conference Proceedings
1168
ISSN(印刷版)0094-243X
ISSN(電子版)1551-7616

Other

OtherInternational Conference on Numerical Analysis and Applied Mathematics 2009, ICNAAM-2009
国/地域Greece
CityRethymno, Crete
Period9/18/099/22/09

ASJC Scopus subject areas

  • 物理学および天文学一般

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