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A Subjective Model of Temporal Preferences


  • Todd Sarver

    (Nortwestern University, Dept. Economics)

  • Haluk Ergin

    (Washington University in Saint Louis, Dept. Economics)


linear hidden action preferences exhibiting a preference for late resolution of uncertainty. The costly contemplation model (Ergin and Sarver (2008a)), as well as a generalization of the Kreps and Porteus (1978) model that allows for preference for flexibility in the sense of DLR (2001) are also characterized.

Suggested Citation

  • Todd Sarver & Haluk Ergin, 2009. "A Subjective Model of Temporal Preferences," 2009 Meeting Papers 1183, Society for Economic Dynamics.
  • Handle: RePEc:red:sed009:1183

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    References listed on IDEAS

    1. Fabio Maccheroni & Massimo Marinacci & Aldo Rustichini, 2006. "Ambiguity Aversion, Robustness, and the Variational Representation of Preferences," Econometrica, Econometric Society, vol. 74(6), pages 1447-1498, November.
    2. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-577, May.
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    Cited by:

    1. Ortoleva, Pietro, 2013. "The price of flexibility: Towards a theory of Thinking Aversion," Journal of Economic Theory, Elsevier, vol. 148(3), pages 903-934.

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