Integral-Value Models for Outcomes over Continuous Time
Publikation: Working paper › Forskning
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Integral-Value Models for Outcomes over Continuous Time. / Harvey, Charles M.; Østerdal, Lars Peter.
Department of Economics, University of Copenhagen, 2007.Publikation: Working paper › Forskning
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TY - UNPB
T1 - Integral-Value Models for Outcomes over Continuous Time
AU - Harvey, Charles M.
AU - Østerdal, Lars Peter
N1 - JEL Classification: D11, H43, I18
PY - 2007
Y1 - 2007
N2 - Models of preferences between outcomes over continuous time are important for individual, corporate, and social decision making, e.g., medical treatment, infrastructure development, and environmental regulation. This paper presents a foundation for such models. It shows that conditions on preferences between real- or vector-valued outcomes over continuous time are satisfied if and only if the preferences are represented by a value function having an integral form
AB - Models of preferences between outcomes over continuous time are important for individual, corporate, and social decision making, e.g., medical treatment, infrastructure development, and environmental regulation. This paper presents a foundation for such models. It shows that conditions on preferences between real- or vector-valued outcomes over continuous time are satisfied if and only if the preferences are represented by a value function having an integral form
KW - Faculty of Social Sciences
KW - discounting
KW - ordinal utility scale
KW - value function
KW - integral
M3 - Working paper
BT - Integral-Value Models for Outcomes over Continuous Time
PB - Department of Economics, University of Copenhagen
ER -
ID: 672549