Changing Time Attitudes in Intertemporal Analysis
通过推广投资者效用函数的时间权重,定义了递减、恒定和递增的时间态度,类似于风险态度度量,丰富了跨期理论并提供了可检验的假设,以农业企业模型为例说明其应用。
Abstract Intertemporal analysis is extended by generalizing the time weight function of an investor's utility function to account for changes in time attitudes. The resulting measures of decreasing, constant, and increasing time attitudes are comparable to the Arrow‐Pratt measures of risk attitudes. They help to enrich intertemporal theory, provide meaningful hypotheses for testing, and broaden the scope for decision analysis over time. Effects of the time attitude measures are illustrated in a model of an agricultural firm.