An infinite-horizon model of nonmonotone utility smoothing

We provide an infinite-horizon model of nonmonotone intertemporal preferences that capture a strong dislike of volatility involved in a utility sequence. As an intermediate result, we also derive a nonmonotone version of multiple-priors utility.

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Year of publication:	2012
Authors:	Wakai, Katsutoshi
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 116.2012, 2, p. 170-173
Publisher:	Elsevier
Subject:	Discount factor \| Nonmonotone preferences \| Utility smoothing

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Type of publication:	Article
Classification:	D80 - Information and Uncertainty. General ; D90 - Intertemporal Choice and Growth. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010597208