Exotic Preferences for Macroeconomists

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  • 1 January 2004
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      • Published in RePEc
Abstract
We provide a user's guide to exotic' preferences: nonlinear time aggregators, departures from expected utility, preferences over time with known and unknown probabilities, risk-sensitive and robust control, hyperbolic' discounting, and preferences over sets ( temptations'). We apply each to a number of classic problems in macroeconomics and finance, including consumption and saving, portfolio choice, asset pricing, and Pareto optimal allocations. (This abstract was borrowed from another version of this item.)
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