Discounting Models for Outcomes over Continuous Time

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.

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Year of publication:	2011-04
Authors:	Harvey, Charles M. ; Østerdal, Lars Peter
Institutions:	Økonomisk Institut, Københavns Universitet
Subject:	continuous time \| integral discounting \| integral value or utility function

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Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 11-12 28 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009003455