preferences, with a focus on the measurement or control for potentially non-linear utility. While the objective of a time … preference experiment is usually to estimate parameters of a discount function, assumptions concerning the nature of utility may … assume an equivalence between utility under risk and over time, and whether they result in an estimate of the curvature of …

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 …

utility. …

the literature are much more complex than in the Expected Utility framework. We obtain a simple and intuitive result on …

representation are provided along with a recursive formulation of intertemporal utility. This allows for tractable and consistent …

depart from the standard expected-utility theory. A new notion of ambiguity aversion, called Event Complementarity, exactly …