Intertemporal Choice with Continuity Constraints - Archive ouverte HAL
Article Dans Une Revue Mathematics of Operations Research Année : 2021

Intertemporal Choice with Continuity Constraints

Résumé

We consider a model of intertemporal choice where time is a continuum, the set of instantaneous outcomes (e.g., consumption bundles) is a topological space, and intertemporal plans (e.g., consumption streams) must be continuous functions of time. We assume that the agent can form preferences over plans defined on open time intervals. We axiomatically characterize the intertemporal preferences that admit a representation via discounted utility integrals. In this representation, the utility function is continuous and unique up to positive affine transformations, and the discount structure is represented by a unique Riemann–Stieltjes integral plus a unique linear functional measuring the long-run asymptotic utility.
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Dates et versions

hal-03637876 , version 1 (13-04-2022)

Identifiants

Citer

Marcus Pivato. Intertemporal Choice with Continuity Constraints. Mathematics of Operations Research, 2021, 46 (3), pp.1203-1229. ⟨10.1287/moor.2020.1091⟩. ⟨hal-03637876⟩
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