Stochastic dynamic utilities and intertemporal preferences

Utilities , Preferences and Choice

Estimating Intertemporal Preferences

In this article, we show how the degree of risk aversion, discounting, and preference for intertemporal substitution for a natural resource manager can be structurally estimated within a recursive utility framework. We focus on the management of a reservoir in California, and test the data for consistency with a recursive utility model specification versus standard time-additive separability. T...

Space, Time, and Intertemporal Preferences

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Utilities, Preferences, and Substantive Goods

SYNOPSIS Part I. Two approaches to utilitv theorly: happiness theory and preference theory.

Goals, Desires, Utilities and Preferences

In this paper we study the logic of goals, which are formalized as desires with an utilitarian semantics. In our framework goals have a dual character, because they are constraints on utility functions as well as constructors of these utility functions. The non-monotonic reasoning related to the constructors reeects that goals are used as heuristic approximations of preferences in decision maki...