Intertemporal utility in continuous time: theoretical foundations and empirical validation
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
2014
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIV, 144 S. graph. Darst. |
Internformat
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Datensatz im Suchindex
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| adam_text | Contents
List of Figures
xi
List of Tables
XIII
1 General Introduction 1
1.1 Motivation.............................................................. 1
1.2 How Does Utility Behave on an Atomic Level?............................ 5
1.3 Does Such a Model Have Predictive Power? .............................. 10
1.4 A Horse Race of Factors................................................ 13
1.5 Thesis Outline......................................................... 15
2 Satiation Preferences - The Case of Certainty 17
2.1 introduction........................................................... 17
2.2 Setup.................................................................. 20
2.2.1 Consumption Paths and Satiation Paths.......................... 20
2.2.2 Utility Functionals............................................. 21
2.3 The Satiation Model.................................................... 23
2.3.1 Characterization
23
2.3.2 Remarks and Examples........................................... 24
2.3.3 Global Monotonicity............................................ 26
2.4 Optimizing Consumption under Satiation................................ 28
2.4.1 Problem Setup and Existence of a Solution...................... 28
2.4.2 Uniqueness and Smoothness...................................... 29
2.4.3 Necessary and Sufficient Optimality Conditions................. 30
2.4.4 The Cake Eating Problem........................................ 31
2.4.5 The Consumption-Savings Problem with CRRA Felicity .............32
2.5 Model Comparison..................................................... 34
2.5.1 Discounted Utility and Continuity.............................. 35
2.5.2 Responsiveness................................................. 37
2.5.3 SA as a Repaired Version of DU................................. 38
2.5.4 Summary of Comparison Results.................................. 40
2.6 Conclusion and Extensions............................................. 41
2.7 Conditions Leading to a Linear Index.................................. 42
2.8 Proofs.................................................................43
2.9 Where Does Utility Come From? ....................................... 51
2.9.1 A Simple Neurobiological-Like System .......................... 52
2.9.2 The Response Function.......................................... 53
2.9.3 Temporal Utility Models
54
2.9.4 Maximizing Hits ............................................... 56
2.9.5 Efficient Routing.............................................. 57
2.9.6 Conclusion..................................................... 58
3 Preferences over Sequences - Empirical Evidence from Music 63
3.1 Introduction.......................................................... 63
3.2 Background and Approach............................................... 66
3.2.1 Experimental Results on Preferences over Sequences............. 66
3.2.2 Music as a Consumption Good ................................... 67
3.2.3 Data Sets...................................................... 68
3.2.4 Article Length as a Proxy for Quality.......................... 69
3.3 Concerts (Wikipedia).................................................. 71
3.3.1 Data Collection Methodology.................................... 71
3.3.2 Overview of the Data........................................... 74
3.3.3 Average Path................................................... 75
3.3.4 Testing the Null Hypothesis of a Flat Sequence ................ 77
3.4 Playlists (Last.fm) ................................................ 78
3.4.1 Data Collection Methodology.................................... 78
3.4.2 Overview of the Data........................................... 82
3.4.3 Average Paths.................................................. 85
3.4.4 Testing the Null Hypothesis of Flat Quality.................... 85
3.5 Interpretation and Inferences......................................... 87
3.6 Conclusions and Suggestions for Further Work...........................90
4 An Experimental Study of Factors Influencing Preferences over Sequences 93
4.1 Introduction......................................................... 93
4.2 Metrics of Choice over Sequences.......................................95
4.2.1 Discretization................................................. 95
4.2.2 Norms............... ,........................................96
4.3 Determinants of Preferences...........................................101
4.4 Experimental Results..................................................109
4.4.1 First Experiment...............................................110
4.4.2 Second Experiment..............................................118
4.5 Interpretation........................................................128
4.6 Conclusion............................................................132
Bibliography 134
|
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| indexdate | 2024-07-10T01:23:33Z |
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| language | English |
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| physical | XIV, 144 S. graph. Darst. |
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| spelling | Smith, Daniel P. 1984- Verfasser (DE-588)1068730730 aut Intertemporal utility in continuous time theoretical foundations and empirical validation vorgelegt von Daniel P. Smith 2014 XIV, 144 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Mannheim, Univ., Diss., 2014 Nutzentheorie (DE-588)4131868-7 gnd rswk-swf Nutzenfunktion (DE-588)4172189-5 gnd rswk-swf Wirtschaftsmathematik (DE-588)4066472-7 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Wirtschaftsmathematik (DE-588)4066472-7 s Nutzenfunktion (DE-588)4172189-5 s Nutzentheorie (DE-588)4131868-7 s DE-604 Digitalisierung UB Augsburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027939422&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Smith, Daniel P. 1984- Intertemporal utility in continuous time theoretical foundations and empirical validation Nutzentheorie (DE-588)4131868-7 gnd Nutzenfunktion (DE-588)4172189-5 gnd Wirtschaftsmathematik (DE-588)4066472-7 gnd |
| subject_GND | (DE-588)4131868-7 (DE-588)4172189-5 (DE-588)4066472-7 (DE-588)4113937-9 |
| title | Intertemporal utility in continuous time theoretical foundations and empirical validation |
| title_auth | Intertemporal utility in continuous time theoretical foundations and empirical validation |
| title_exact_search | Intertemporal utility in continuous time theoretical foundations and empirical validation |
| title_full | Intertemporal utility in continuous time theoretical foundations and empirical validation vorgelegt von Daniel P. Smith |
| title_fullStr | Intertemporal utility in continuous time theoretical foundations and empirical validation vorgelegt von Daniel P. Smith |
| title_full_unstemmed | Intertemporal utility in continuous time theoretical foundations and empirical validation vorgelegt von Daniel P. Smith |
| title_short | Intertemporal utility in continuous time |
| title_sort | intertemporal utility in continuous time theoretical foundations and empirical validation |
| title_sub | theoretical foundations and empirical validation |
| topic | Nutzentheorie (DE-588)4131868-7 gnd Nutzenfunktion (DE-588)4172189-5 gnd Wirtschaftsmathematik (DE-588)4066472-7 gnd |
| topic_facet | Nutzentheorie Nutzenfunktion Wirtschaftsmathematik Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027939422&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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