Title of article
Time-consistent optimal stopping
Author/Authors
Lones Smith، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1997
Pages
3
From page
277
To page
279
Abstract
This paper investigates time-consistent vNM preferences under uncertainty where the strategies are stopping times, and sooner is preferred to later. I show that in addition to Strotzʹs [Strotz, R., 1956. Myopia and Inconsistency in Dynamic Utility Maximization, Review of Economic Studies, 23, 165–180] exponential discounting class, negative affine discounting also yields time-consistent behavior.
Keywords
Time-consistent , vNM utility , Time preference , Affine
Journal title
Economics Letters
Serial Year
1997
Journal title
Economics Letters
Record number
434400
Link To Document