Using as a starting point a popular version of the utility function, we obtain a value for the risk aversion parameter … ratio. Moreover, we obtain a value for the utility of the market equilibrium portfolio …

We address how recursive utility affects important results in the theory of economics of uncertainty and time, as … standard theory are less puzzling with recursive utility, even if this type of preference representation seems close to the … standard one at first sight. The basic difference is that recursive utility allows a form of separation of consumption …

theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments …, subjected expected utility and maxmin expected utility in the presence of uncertainty, and exponentially discounted utility for …