The main objective in this article is to shed new light on the term structure of subjective time preference rates using a conditional Consumption Capital Asset Pricing Model. Following Samuelson's (1937)'s suggestion, we analyze the concept of “time consistency”. More precisely, we challenge...

The reversibility phenomenon in the repeat-sales index (RSI) is a serious obstacle for derivatives products. This article provides a solution for this problem, using an informational reformulation of the RSI framework. A theoretical formula (simple, easy to interpret, and easy to handle) is...