Temporal Neutrality Implies Exponential Temporal Discounting
نویسندگان
چکیده
How should one discount utility across time? The conventional wisdom in social science is that use an exponential function. Such a function representation of the axioms provide well-defined plus condition known as stationarity. Yet stationarity doesnt really have much intuitive normative pull on its own. Here I try to cast it glow by deriving from two explicitly premises, both suggested philosophical thesis temporal neutralism. Putting argument this form helps us better understand discounting and challenges it.
منابع مشابه
Positive Temporal Dependence of the Biological Clock Implies Hyperbolic Discounting
Temporal preferences of animals and humans often exhibit inconsistencies, whereby an earlier, smaller reward may be preferred when it occurs immediately but not when it is delayed. Such choices reflect hyperbolic discounting of future rewards, rather than the exponential discounting required for temporal consistency. Simultaneously, however, evidence has emerged that suggests that animals and h...
متن کاملDiscounting and Risk Neutrality
Let be a binary relation in which is a real vector space of vector-valued discrete-time Ð ¤ ß Z Ñ Z stochastic processes with as the sequence of zero vectors. If satisfies four axioms, then ! Ð ¤ ß Z Ñ there are unique discount factors such that preferences regarding stochastic processes induce prefences among present value random vectors. Three of the axioms are familiar: weak ordering, contin...
متن کاملTemporal Discounting and Inter-Temporal Choice in Rhesus Monkeys
Humans and animals are more likely to take an action leading to an immediate reward than actions with delayed rewards of similar magnitudes. Although such devaluation of delayed rewards has been almost universally described by hyperbolic discount functions, the rate of this temporal discounting varies substantially among different animal species. This might be in part due to the differences in ...
متن کاملAbstract word count: 205 TEMPORAL DISCOUNTING IN BULIMIA NERVOSA Increased temporal discounting
Objective: There is evidence that people with eating disorders display altered intertemporal choice behaviour (the degree of preference for immediate rewards over delayed rewards). Compared to healthy controls (HC), individuals with anorexia nervosa and binge-eating disorder show decreased and increased rates of temporal discounting (TD; the devaluation of delayed rewards), respectively. This i...
متن کاملDiscounting axioms imply risk neutrality
Although most applications of discounting occur in risky settings, the best-known axiomatic justifications are deterministic. This paper provides an axiomatic rationale for discounting in a stochastic framework. Consider a representation of time and risk preferences with a binary relation on a real vector space of vector-valued discrete-time stochastic processes on a probability space. Four axi...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Philosophy of Science
سال: 2023
ISSN: ['0031-8248', '1539-767X']
DOI: https://doi.org/10.1017/psa.2023.36