On Monotone Recursive Preferences
dc.contributor.author
Bommier, Antoine
dc.contributor.author
Kochov, Asen
dc.contributor.author
Le Grand, François Louis
dc.date.accessioned
2020-11-03T10:29:25Z
dc.date.available
2017-06-12T18:30:07Z
dc.date.available
2017-11-20T10:36:42Z
dc.date.available
2018-01-10T11:24:05Z
dc.date.available
2020-11-03T10:29:25Z
dc.date.issued
2016-07-10
dc.identifier.other
10.2139/ssrn.2806871
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/126432
dc.description.abstract
We explore the set of preferences defined over temporal lotteries in an infinite horizon setting. We provide utility representations for all preferences that are both recursive and monotone. Our results indicate that the class of monotone recursive preferences includes Uzawa and risk-sensitive preferences, but leaves aside several of the recursive models suggested by Epstein and Zin (1989). Our representation result is derived in great generality using Lundberg (1982, 1985)'s work on functional equations.
en_US
dc.language.iso
en
en_US
dc.publisher
Social Science Research Network
dc.subject
Recursive utility
en_US
dc.subject
Monotonicity
en_US
dc.subject
Stationarity
en_US
dc.subject
Temporal lotteries
en_US
dc.subject
Risk aversion
en_US
dc.title
On Monotone Recursive Preferences
en_US
dc.type
Working Paper
ethz.journal.title
SSRN
ethz.pages.start
2806871
ethz.size
54 p.
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D9 - Intertemporal Choice::D90 - General
en_US
ethz.code.jel
JEL - JEL::D - Microeconomics::D8 - Information, Knowledge, and Uncertainty::D81 - Criteria for Decision-Making under Risk and Uncertainty
en_US
ethz.publication.place
Rochester, NY
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03877 - Bommier, Antoine / Bommier, Antoine
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03877 - Bommier, Antoine / Bommier, Antoine
ethz.relation.isPreviousVersionOf
handle/20.500.11850/210393
ethz.relation.isPreviousVersionOf
handle/20.500.11850/210477
ethz.date.deposited
2017-06-12T18:30:32Z
ethz.source
ECIT
ethz.identifier.importid
imp5936551fbeef657944
ethz.ecitpid
pub:189170
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2017-07-18T07:35:55Z
ethz.rosetta.lastUpdated
2025-02-13T22:20:18Z
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Working Paper [6112]