相关论文: Rational hyperbolic discounting

The recent literature often cites Fang and Wang (2015) for analyzing the identification of time preferences in dynamic discrete choice under exclusion restrictions (e.g. Yao et al., 2012; Lee, 2013; Ching et al., 2013; Norets and Tang,…

Incorporation of expert information in inference or decision settings is often important, especially in cases where data are unavailable, costly or unreliable. One approach is to elicit prior quantiles from an expert and then to fit these…

In this paper an approach to automated deduction under uncertainty,based on possibilistic logic, is proposed ; for that purpose we deal with clauses weighted by a degree which is a lower bound of a necessity or a possibility measure,…

This paper assumes each individual in society has a random discount factor and assesses an intertemporal project using rank-dependent expected utility theory. We consider both the ex ante and the ex post approaches. For the former, we show…

A consumer who wants to consume a good in a particular period may nevertheless attempt to buy it earlier if he is concerned that in delaying he would find the good already sold. This paper considers a model in which the good may be offered…

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…

Let the adiabatic invariant of action variable in slow-fast Hamiltonian system with two degrees of freedom have two limiting values along the trajectories as time tends to infinity. The difference of two limits is exponentially small in…

An important use of machine learning is to learn what people value. What posts or photos should a user be shown? Which jobs or activities would a person find rewarding? In each case, observations of people's past choices can inform our…

Assuming humans are (approximately) rational enables robots to infer reward functions by observing human behavior. But people exhibit a wide array of irrationalities, and our goal with this work is to better understand the effect they can…

We consider an economic agent (a household or an insurance company) modelling its surplus process by a deterministic process or by a Brownian motion with drift. The goal is to maximise the expected discounted spendings/dividend payments,…

This paper characterizes differentiable subgame perfect equilibria in a continuous time intertemporal decision optimization problem with non-constant discounting. The equilibrium equation takes two different forms, one of which is…

Consider an agent interacting with an environment in cycles. In every interaction cycle the agent is rewarded for its performance. We compare the average reward U from cycle 1 to m (average value) with the future discounted reward V from…

We obtain a characterization of two classes of dynamics with nonuniformly hyperbolic behavior in terms of an admissibility property. Namely, we consider exponential dichotomies with respect to a sequence of norms and nonuniformly hyperbolic…

We consider an individual or household endowed with an initial capital and an income, modeled as a deterministic process with a continuous drift rate. At first, we model the discounting rate as the price of a zero-coupon bond at zero under…

Stable numerical simulations for a hyperbolic system of conservation laws of relaxation type but not in divergence form are obtained by incorporating the physical entropy into the simulations. The entropy balance is utilized as an…

We add the assumption that players know their opponents' payoff functions and rationality to a model of non-equilibrium learning in signaling games. Agents are born into player roles and play against random opponents every period.…

In this paper, we consider diagonal hyperbolic systems with monotone continuous initial data. We propose a natural semi-explicit and upwind first order scheme. Under a certain non-negativity condition on the Jacobian matrix of the…

We give necessary and sufficient conditions for a hyperbolic set to be non-chaotic (or, conversely, chaotic) in a certain sense.

We consider active learning under incentive compatibility constraints. The main application of our results is to economic experiments, in which a learner seeks to infer the parameters of a subject's preferences: for example their attitudes…

Standard rational expectations models with an occasionally binding zero lower bound constraint either admit no solutions (incoherence) or multiple solutions (incompleteness). This paper shows that deviations from full-information rational…