Discounting Models for Outcomes over Continuous Time
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- DP 11-12
Submitted manuscript, 503 KB, PDF document
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.
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.
| Original language | English |
|---|---|
| Publisher | Department of Economics, University of Copenhagen |
| Number of pages | 28 |
| Publication status | Published - Apr 2011 |
| Series | University of Copenhagen. Institute of Economics. Discussion Papers (Online) |
|---|---|
| Number | 12 |
| Volume | 2011 |
| ISSN | 1601-2461 |
- Faculty of Social Sciences
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