Time-consistent optimal stopping

被引：1
|
作者：
Smith, L
机构：
来源：
ECONOMICS LETTERS | 1997年 / 56卷 / 03期
关键词：
time-consistent; vNM utility; affine; time preference;
D O I：
10.1016/S0165-1765(97)00174-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper investigates time-consistent vNM preferences under uncertainty where the strategies are stopping times, and sooner is preferred to later. I show that in addition to Strotz's [Strotz, R., 1956. Myopia and Inconsistency in Dynamic Utility Maximization, Review of Economic Studies, 23, 165-180] exponential discounting class, negative affine discounting also yields time-consistent behavior. (C) 1997 Elsevier Science S.A.
引用
收藏
页码：277 / 279
页数：3
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