On Multiple Discount Rates with Recursive Time-Dependent Orders

Jean-Pierre Drugeon and Thai Ha-Huy

MPRA Paper from University Library of Munich, Germany

Abstract: This study adresses time-dependent orders that are shown to lead to recursive representations based upon a Max-Min dichotomy and introduce a structure that is naturally based upon time-varying multiple discounts. It is argued that this setup naturally provides an enriched understanding of the much discussed present biases. It is established how a multiple discounts version of \emph{present biais} becomes available and directly builds upon the features of the order defined from the head of the utilities sequence.

Keywords: Axiomatization; Time-Dependent Orders; Time-Varying Multiple Discounts; Multiple Present Biases. (search for similar items in EconPapers)
JEL-codes: D9 D90 D91 (search for similar items in EconPapers)
Date: 2021-12-29
New Economics Papers: this item is included in nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:111308

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