Arbeitspapier
Non-time additive utility optimization: The case of certainty
We study the intertemporal utility maximization problem for Hindy-Huang-Kreps utilities. Necessary and sufficient conditions for optimality are given. An explicit solution is provided for a large class of utility functions. In particular, the case of separable power utilities with a finite time horizon is solved explicitly.
- Language
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Englisch
- Bibliographic citation
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Series: SFB 373 Discussion Paper ; No. 1998,108
- Classification
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Subject
-
non-time additive utility optimization
intertemporal utility
- Event
-
Geistige Schöpfung
- (who)
-
Riedel, Frank
Bank, Peter
- Event
-
Veröffentlichung
- (who)
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Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
- (where)
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Berlin
- (when)
-
1998
- Handle
- URN
-
urn:nbn:de:kobv:11-10060797
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Riedel, Frank
- Bank, Peter
- Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Time of origin
- 1998
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On losing certainty
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Foundations of continuous-time recursive utility : differentiability and normalization of certainty equivalents
Risk premiums and certainty equivalents of loss-averse newsvendors of bounded utility
Risk premiums and certainty equivalents of loss-averse newsvendors of bounded utility
On Certainty
Non-concave Expected Utility Optimization with Uncertain Time Horizon
Certainty of punishmet.
On losing certainty
Change--The Third Certainty
The search for certainty