symmetry if the latter is generated by a field. Moreover, solving the PDEs yields the functional form for utility equivalent to …, multivariate separability, and homogeneity, including the cases of Cobb-Douglas and CES utility. …

This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …

We characterize optimal consumption policies in a recursive intertemporal utility framework with local substitution. We …

One of the most well-known models of non-expected utility is Gul (1991)'s model of Disappointment Aversion. This model …, however, is defined implicitly, as the solution to a functional equation; its explicit utility representation is unknown …

orders on finite utility streams. We show that a preference order satisfying the axioms of Minimal Individual Symmetry …

By taking sets of utility functions as a primitive description of agents, we define an ordering over assumptions on … utility functions that gauges their implicit measurement requirements. Cardinal and ordinal assumptions constitute two types … ordering to different theories for why consumer preferences should be convex and show that diminishing marginal utility, which …