Discounted Subjective Expected Utility in Continuous Time
Fuente:
arXiv
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| Autori principali: | , |
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| Natura: | Preprint |
| Pubblicazione: |
2024
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| Soggetti: | |
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| _version_ | 1866914724864589824 |
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| author | Bastianello, Lorenzo Vergopoulos, Vassili |
| author_facet | Bastianello, Lorenzo Vergopoulos, Vassili |
| contents | By embedding uncertainty into time, we obtain a conjoint axiomatic characterization of both Exponential Discounting and Subjective Expected Utility that accommodates arbitrary state and outcome spaces. In doing so, we provide a novel and simple time-interpretation of subjective probability. The subjective probability of an event is calibrated using time discounting. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2403_15319 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Discounted Subjective Expected Utility in Continuous Time Bastianello, Lorenzo Vergopoulos, Vassili Theoretical Economics By embedding uncertainty into time, we obtain a conjoint axiomatic characterization of both Exponential Discounting and Subjective Expected Utility that accommodates arbitrary state and outcome spaces. In doing so, we provide a novel and simple time-interpretation of subjective probability. The subjective probability of an event is calibrated using time discounting. |
| title | Discounted Subjective Expected Utility in Continuous Time |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2403.15319 |