An infinite-horizon model of nonmonotone utility smoothing
AbstractWe provide an infinite-horizon model of nonmonotone intertemporal preferences that capture a strong dislike of volatility involved in a utility sequence. As an intermediate result, we also derive a nonmonotone version of multiple-priors utility.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 116 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/ecolet
Discount factor; Nonmonotone preferences; Utility smoothing;
Find related papers by JEL classification:
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- D90 - Microeconomics - - Intertemporal Choice - - - General
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