IDEAS home Printed from https://ideas.repec.org/p/kud/kuiedp/0512.html
   My bibliography  Save this paper

Preferences Between Continuous Streams of Events

Author

Listed:
  • Charles M. Harvey

    (Department of Decision and Information Sciences, University of Houston)

  • Lars Peter Østerdal

    (Department of Economics, University of Copenhagen)

Abstract

Cost-benefit and health policy studies often model a consequence occurring over time as a continuous stream of events. Such a consequence is measured by the rates at which events occur or by the states that occur, and the value of the consequence is measured by an integral. This paper presents a foundation for such models. It defines conditions on preferences between consequences that are equivalent to an integral value function having a discounting function and an intertemporal equity function.

Suggested Citation

  • Charles M. Harvey & Lars Peter Østerdal, 2005. "Preferences Between Continuous Streams of Events," Discussion Papers 05-12, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:0512
    as

    Download full text from publisher

    File URL: http://www.econ.ku.dk/english/research/publications/wp/2005/0512.pdf/
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    discounting; equity; continuous time; value function; evaluation;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kud:kuiedp:0512. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thomas Hoffmann (email available below). General contact details of provider: https://edirc.repec.org/data/okokudk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.