Some characterizations of non-additive multi-periodic models

Building upon the works of Gilboa (1989), Shalev (1997) and De Waegenaere andWakker (2001), we show that a simple version of variation aversion, jointly witha myopia axiom allows to derive in an inﬁnite setting a meaningful expressionfor evaluating income streams. Furthermore, we prove that the usual additivediscounted expectation introduced by Koopmans (1972) can be accommodatedin a non-additive way.

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Year of publication:	2002-12-01
Authors:	Chateauneuf, Alain ; Rebille, Yann
Institutions:	Institut für Schweizerisches Bankwesen <Zürich> ; National Centre of Competence in Research North South <Bern>
Subject:	Aversion \| Einkünfte \| adult outcomes

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Extent:	20 p. application/pdf
Series:	Universität Zürich - Institut für Schweizerisches Bankwesen - Working Papers Working Paper ; No. 121 (2002)
Type of publication:	Book / Working Paper
Language:	English
Classification:	Corporate finance and investment policy. General ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005858451