This article studies an axiomatic approach of inter-temporal utility streams that takes into account evaluations of stream's close future and distant future. A detailed characterization of sets of discount rates systems used to evaluate the close and distant future is presented. This is followed...

This study adresses time-dependent orders that are shown to lead to recursive representations based upon a Max-Min dichotomy and introduces a structure that is naturally based upon time-varying multiple discounts. It is argued that this setup naturally provides an enriched understanding of the...