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:	2012
Authors:	Harvey, Charles M. ; Østerdal, Lars Peter
Published in:	Journal of Mathematical Economics. - Elsevier, ISSN 0304-4068. - Vol. 48.2012, 5, p. 284-294
Publisher:	Elsevier
Subject:	Continuous time \| Integral discounting \| Integral utility function

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011065403