Exotic Preferences for Macroeconomists

We provide a user's guide to exotic' preferences: nonlinear time aggregators, departures from expected utility, preferences over time with known and unknown probabilities, risk-sensitive and robust control, hyperbolic' discounting, and preferences over sets ( temptations'). We apply each to a number of classic problems in macroeconomics and finance, including consumption and saving, portfolio choice, asset pricing, and Pareto optimal allocations.

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Year of publication:	2004-06
Authors:	Backus, David ; Routledge, Bryan R. ; Zin, Stanley E.
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	EFG AP published as <a href="http://www.nber.org/chapters/c6672">Exotic Preferences for Macroeconomists</a>, David K. Backus, Bryan R. Routledge, Stanley E. Zin. in <a href="http://www.nber.org/books/gert05-1">NBER Macroeconomics Annual 2004, Volume 19</a>, Gertler and Rogoff. 2005 Number 10597
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005088791