Modeling nonmonotone preferences: the case of utility smoothing
type: Item
instance of: scholarly article
title: Modeling nonmonotone preferences: the case of utility smoothing
zbMATH Open document ID: 1229.91120
author: Katsutoshi Wakai
published in: Journal of Mathematical Economics
publication date: 2011-07-27T00:00:00Z
review text: The author presents an axiomatic model of intertemporal choice in which a strong dislike of volatility involved in a utility sequence causes preferences to be non-monotone. The obtained model is applied to a consumption-saving problem.
reviewed by: Krzysztof Piasecki
Mathematics Subject Classification ID: 91B16
zbMATH DE Number: 5933157
zbMATH Keywords: discount factor
zbMATH Keywords: gain/loss asymmetry
zbMATH Keywords: non-monotone preferences
zbMATH Keywords: recursive utility
zbMATH Keywords: reference point
zbMATH Keywords: utility smoothing
MaRDI profile type: Publication
full work available at URL: j.jmateco.2011.02.004
OpenAlex ID: W2092864072
cites work: A Definition of Subjective Probability
cites work: Foundations of mathematical economics
cites work: Maxmin expected utility over Savage acts with a set of priors
cites work: Recursive multiple-priors.
cites work: Intertemporal Asset Pricing under Knightian Uncertainty
cites work: Discounting and optimizing: Capital accumulation problems as variational minmax problems
cites work: Expectation and Variation in Multi-Period Decisions
cites work: Maxmin expected utility with non-unique prior
cites work: Prospect Theory: An Analysis of Decision under Risk
cites work: Temporal Resolution of Uncertainty and Dynamic Choice Theory
cites work: Foundations of Intrinsic Habit Formation
cites work: Q5826088
cites work: Loss aversion in a multi-period model
cites work: Nonmonotonic Choquet integrals
cites work: A Model of Utility Smoothing
DOI: 10.1016/J.JMATECO.2011.02.004
description: scientific article; zbMATH DE number 5933157