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About Delay Aversion

  • Lorenzo Bastianello
  • Alain Chateauneuf

In this paper we study the behaviour of decision makers who show, quoting Irving Fisher, preferences for advancing the timing of future satisfaction. We gave two definitions that could represent this kind of attitude and we studied their implications in three popular models used in decision theory, proposing alternatives to the usual concept of discounting. We found interesting links with the theory that studies the impossibility of aggregating infinite streams of income (or utility) keeping both strong monotonicity and equality among all generations, and with the notion of domination of a streams of income over another one at all interest rates.

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Paper provided by Department of Research, Ipag Business School in its series Working Papers with number 2013-030.

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Length: 24 pages
Date of creation: 15 Oct 2013
Date of revision:
Handle: RePEc:ipg:wpaper:2013-030
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  1. Raut, L. K., 1986. "Myopic topologies on general commodity spaces," Journal of Economic Theory, Elsevier, vol. 39(2), pages 358-367, August.
  2. Brown, Donald J & Lewis, Lucinda M, 1981. "Myopic Economic Agents," Econometrica, Econometric Society, vol. 49(2), pages 359-68, March.
  3. Jean-Pierre Benoît & Efe OK, 2005. "Delay Aversion," 2005 Meeting Papers 752, Society for Economic Dynamics.
  4. David Schmeidler, 1989. "Subjective Probability and Expected Utility without Additivity," Levine's Working Paper Archive 7662, David K. Levine.
  5. Chateauneuf, Alain & Ventura, Caroline, 2013. "G-continuity, impatience and myopia for Choquet multi-period utilities," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 97-105.
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