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Tepper School of Business 9-2004 Exotic Preferences for Macroeconomists
| Content Provider | Semantic Scholar |
|---|---|
| Author | Backus, David K. Routledge, Bryan R. |
| Copyright Year | 2015 |
| 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, risksensitive 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. JEL Classification Codes: D81, D91, E1, G12. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://repository.cmu.edu/cgi/viewcontent.cgi?article=1420&context=tepper |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |