Decision Making When Things Are Only a Matter of Time
研究了当风险只关乎事件发生时间而非结果本身时，人们如何做决策，定义了贴现函数中的审慎和节制概念，并指出忽略时间不确定性会低估气候变化等事件的负效用。
Suppose that “risk” does not concern “what” may happen but “when” something may happen. In “Decision making when things are only a matter of time,” Sebastian Ebert analyzes time risk preferences: that is, preferences toward the risk of something happening sooner or later. The author defines and characterizes “prudence” and “temperance” for discount functions in analogy to the corresponding concepts for utility functions. Prudent discounting and temperate discounting matter for time risk preferences and thus, decisions in which an important event is only a matter of time. For example, the disutility from climate change—which is only a matter of time—is underestimated when ignoring the uncertainty about when its undesired consequences come into effect.