Expected Growth Criterion: An Axiomatization
Theoretical Economics
2022-12-20 v1
Abstract
I provide necessary and sufficient conditions for an agent's preferences to be represented by a unique ergodic transformation. Put differently, if an agent seeks to maximize the time average growth of their wealth, what axioms must their preferences obey? By answering this, I provide economic theorists a clear view of where "Ergodicity Economics" deviates from established models.
Keywords
Cite
@article{arxiv.2212.09617,
title = {Expected Growth Criterion: An Axiomatization},
author = {Joshua Lawson},
journal= {arXiv preprint arXiv:2212.09617},
year = {2022}
}