arXiv Open Access 2024

Discounted Subjective Expected Utility in Continuous Time

Lorenzo Bastianello Vassili Vergopoulos

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Abstrak

By embedding uncertainty into time, we obtain a conjoint axiomatic characterization of both Exponential Discounting and Subjective Expected Utility that accommodates arbitrary state and outcome spaces. In doing so, we provide a novel and simple time-interpretation of subjective probability. The subjective probability of an event is calibrated using time discounting.

Topik & Kata Kunci

econ.TH

Penulis (2)

Lorenzo Bastianello

Vassili Vergopoulos

Format Sitasi

APA MLA BibTeX

Bastianello, L., Vergopoulos, V. (2024). Discounted Subjective Expected Utility in Continuous Time. https://arxiv.org/abs/2403.15319

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Informasi Jurnal

Tahun Terbit: 2024
Bahasa: en
Sumber Database: arXiv
Akses: Open Access ✓