A Theory of Average Growth Rate Indices
This paper develops an axiomatic theory of an economic variable average growth rate (average rate of change) measurement. The structures that we obtain generalize the conventional measures for average rate of growth (such as the difference quotient, the continuously compounded growth rate, etc.) to an arbitrary domain of the underlying variable and comprise various models of growth. These structures can be described with the help of intertemporal choice theory by means of parametric families of time preference relations on the 'prize-time' space with a parameter representing the subjective discount rate.
|Date of creation:||19 Jun 2013|
|Contact details of provider:|| Postal: 3 Gagarinskaya Street, 191187 St. Petersburg|
Phone: +7 (812) 275-1130
Web page: http://www.eu.spb.ru/econ/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Basu, Kaushik, 1983.
"Cardinal utility, utilitarianism, and a class of invariance axioms in welfare analysis,"
Journal of Mathematical Economics,
Elsevier, vol. 12(3), pages 193-206, December.
- BASU, Kaushik, "undated". "Cardinal utility, utilitarianism, and a class of invariance axioms in welfare analysis," CORE Discussion Papers RP 580, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Fishburn, Peter C & Rubinstein, Ariel, 1982. "Time Preference," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(3), pages 677-694, October.
- Uri Benzion & Amnon Rapoport & Joseph Yagil, 1989. "Discount Rates Inferred from Decisions: An Experimental Study," Management Science, INFORMS, vol. 35(3), pages 270-284, March.
- David Promislow, S. & Spring, David, 1996. "Postulates for the internal rate of return of an investment project," Journal of Mathematical Economics, Elsevier, vol. 26(3), pages 325-361.
- George Loewenstein & Drazen Prelec, 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 573-597.
- Thistle, Paul D., 1993. "Negative Moments, Risk Aversion, and Stochastic Dominance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 28(02), pages 301-311, June.
- Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207.
- Fishburn, Peter C, 1973. "A Mixture-Set Axiomatization of Conditional Subjective Expected Utility," Econometrica, Econometric Society, vol. 41(1), pages 1-25, January.
- Dubra, Juan, 2009. "A theory of time preferences over risky outcomes," Journal of Mathematical Economics, Elsevier, vol. 45(9-10), pages 576-588, September.
- Marc Scholten & Daniel Read, 2006. "Discounting by Intervals: A Generalized Model of Intertemporal Choice," Management Science, INFORMS, vol. 52(9), pages 1424-1436, September.
- Thomas Epper & Helga Fehr-Duda & Adrian Bruhin, 2011. "Viewing the future through a warped lens: Why uncertainty generates hyperbolic discounting," Journal of Risk and Uncertainty, Springer, vol. 43(3), pages 169-203, December.
- Thomas Epper & Helga Fehr-Duda & Adrian Bruhin, 2010. "Viewing the future through a warped lens: Why uncertainty generates hyperbolic discounting," IEW - Working Papers 510, Institute for Empirical Research in Economics - University of Zurich.
- Read, Daniel, 2001. "Is Time-Discounting Hyperbolic or Subadditive?," Journal of Risk and Uncertainty, Springer, vol. 23(1), pages 5-32, July.
- Ok, Efe A. & Masatlioglu, Yusufcan, 2007. "A theory of (relative) discounting," Journal of Economic Theory, Elsevier, vol. 137(1), pages 214-245, November.
- Bleichrodt, Han & Rohde, Kirsten I.M. & Wakker, Peter P., 2009. "Non-hyperbolic time inconsistency," Games and Economic Behavior, Elsevier, vol. 66(1), pages 27-38, May. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:eus:wpaper:ec0513. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mikhail Pakhnin)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.