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Titlebook: Dynamic Preferences, Choice Mechanisms, and Welfare; Ludwig Auer Book 1998 Springer-Verlag Berlin Heidelberg 1998 Dynamisches Wahlverhalte

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书目名称Dynamic Preferences, Choice Mechanisms, and Welfare
编辑Ludwig Auer
视频video
概述The book conveys a fundamental understanding of intertemporal decision making..It is thus useful for researchers and teachers alike.
丛书名称Lecture Notes in Economics and Mathematical Systems
图书封面Titlebook: Dynamic Preferences, Choice Mechanisms, and Welfare;  Ludwig Auer Book 1998 Springer-Verlag Berlin Heidelberg 1998 Dynamisches Wahlverhalte
描述For most economic aspects of human behaviour, static deci­ sion models provide an insufficient description. More specifically, they ignore the fact that preferences may change over time and that at each point of time current preferences depend on aspects which are associated with the past or the future. The neglect of these phenomena may lead to results which have little in com­ mon with real life. Dynamic decision models were developed in order to cope with these complications. Spurred by the availability of new mathematical tools such as optimal control theory and dynamic programming, dynamic utility models mushroomed over the last two decades. Various frameworks were developed featuring dif­ ferent restrictions on the way agents form preferences in an in­ tertemporal environment. Unfortunately, no systematic reappraisal of this literature ex­ ists. The survey provided in part I of this thesis attempts to fill in this gap. It introduces a comprehensive classification sys­ tem which allows for a coherent organization of all studies of intertemporal choice under certainty and complete information. 2 1. Introduction The latter implies that the individual knows in advance all fu­ tur
出版日期Book 1998
关键词Dynamisches Wahlverhalten; Entscheidungstheorie; Intertemporaler Nutzen; Nutzentheorie; decision making;
版次1
doihttps://doi.org/10.1007/978-3-642-58879-2
isbn_softcover978-3-540-64320-3
isbn_ebook978-3-642-58879-2Series ISSN 0075-8442 Series E-ISSN 2196-9957
issn_series 0075-8442
copyrightSpringer-Verlag Berlin Heidelberg 1998
The information of publication is updating

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0075-8442 economic aspects of human behaviour, static deci­ sion models provide an insufficient description. More specifically, they ignore the fact that preferences may change over time and that at each point of time current preferences depend on aspects which are associated with the past or the future. The
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,פ,emselves, and not with the mechanism they are generated from. Specifically, we describe in which way the choice sets vary as we change the opportunity sets, that is we analyse a choice function (see Definition 6.2). Depending on the way the choice sets vary, we say that the choice function exhibits a certain ..
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Additive Utility Modelsdenotes instantaneous utility and ., .(.) is called a discount function. The time horizon . may or may not be infinite. This functional postulates that instantaneous utility and the discount rate related to period . may depend on present, past, and future consumption bundles as well as on the vantag
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