Dynamic preferences, choice mechanisms, and welfare:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | German |
| Published: |
Berlin ; Heidelberg ; New York ; Barcelona ; Budapest ; Hong Kon
Springer
1998
|
| Series: | Lecture notes in economics and mathematical systems
462 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XII, 226 S. graph. Darst. |
| ISBN: | 3540643206 |
Staff View
MARC
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| 245 | 1 | 0 | |a Dynamic preferences, choice mechanisms, and welfare |c Ludwig von Auer |
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| 300 | |a XII, 226 S. |b graph. Darst. | ||
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Record in the Search Index
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| adam_text | Contents
1 Introduction 1
1 A Survey of Intertemporal Choice under
Certainty 5
2 Elements of Intertemporal Choice 7
2.1 Preliminaries 7
2.2 A Basic Overview 9
2.3 Dynamic Utility A Synopsis 9
2.3.1 A Simple Example 9
2.3.2 Models without Instantaneous Utility ... 11
2.3.3 Models Based on Instantaneous Utility . . 15
2.4 Prom Dynamic Utility to Actual Choices 21
2.5 Recapitulation 23
3 Myopic Utility Models 25
3.1 Preliminaries 25
3.2 Utility Functions and Long Run Demand Indi¬
cators 30
x Contents
3.2.1 The Two Good Case 30
3.2.2 The Many Good Case 32
3.2.3 A Generalization to Choice Sets 39
3.3 The Interpretation of Long Run Demand Indicators 41
3.4 Recapitulation 44
4 Additive Utility Models 47
4.1 Preliminaries 47
4.2 The Discounted Utility Model 49
4.3 Dynamic Consistency and Pareto Optimality ... 52
4.4 Addiction and Satiation 57
4.4.1 Basic Concepts 57
4.4.2 Optimal Control Models 60
4.5 Econometric Aspects 65
4.6 Endogenously Changing Discount Factors 66
4.7 Recapitulation 68
5 Recursive Utility Models 69
5.1 Preliminaries .... 69
5 2 The Aggregator and the Rate of Time Preference 72
5.3 Descriptive Validity 75
5.4 Further Aspects 79
5.4.1 The Aggregator Approach 79
5.4.2 Weak Separability and Dynamic Consis¬
tency 80
5.5 Recapitulation 81
6 Universal Utility Models 83
6 l Preliminaries 83
6 2 Models Doing Without Continuous Preferences . . 84
6 2.1 Basic Concepts 84
6 2.2 Important Findings Based on Strict Pref¬
erences 90
6.2.3 H Consistency and H Ordinality 91
•«* Models with Continuous Preferences 94
6 3.1 Dynamic Consistency 94
Contents xi
6.3.2 Indifference, Subgame Perfection, and Pareto
Optimality 96
6.4 Recapitulation 98
II Preferences, Choice, and Welfare in
Universal Utility Models 99
7 Elementary Aspects of Choice in Universal Utility
Models 101
7.1 Preliminaries 101
7.2 The Framework 103
7.2.1 The Applied Decision Tree 103
7.2.2 Graphical Representations of Universal
Utility Models 104
7.2.3 Choice Sets Re Considered 108
7.3 Choice Mechanisms 109
7.3.1 Trivial Choice 109
7.3.2 Naive and Resolute Choice Ill
7.3.3 Sophisticated Choice 116
7.4 Sophisticated Choice and Subgame Perfection . . 124
7.5 Recapitulation 129
8 Properties of Dynamic Choice Functions 131
8.1 Preliminaries 131
8.2 Contractible Choice Functions 132
8.2.1 Ordinality of Choice 132
8.2.2 Stability of Choice 136
8.2.3 Contractibility of Choice 137
8.3 Recapitulation 140
9 Welfare Judgements 143
9.1 Preliminaries 143
9.2 The Revealed Preference Approach of v. Weizsacker 145
9.3 A Revealed Preference Approach Based on Con¬
tractibility 147
9.4 Recapitulation 150
xii Contents
10 Conditions for Stability, Cardinality, and Contract
ibility 151
10.1 Preliminaries 151
10.2 Necessary and Sufficient Conditions for Contract
ibility 153
10.3 Necessary and Sufficient Conditions for Stability
and Ordinality 156
10.3.1 Stability 156
10.3.2 Ordinality 159
10.4 Recapitulation 162
11 An Extension to Uncertainty 165
11.1 Preliminaries 165
11.2 The Framework 166
11.3 Some Remarks on the Independence Axiom ... 170
11.4 From Preferences to Choices 173
11.4.1 Opportunity Sets and Choice Sets 173
11.4.2 Choice Mechanisms and Choice Functions 175
11.5 Subgame Perfection 179
11.6 Properties of Choice 181
11.6.1 Ordinality and Stability 181
11.6.2 Contractibility 182
11.7 Shadow Quasi Orderings and Welfare Judgements 186
11.8 Necessary and Sufficient Conditions for Contract¬
ibility 188
11.9 Recapitulation 191
12 Concluding Remarks 193
Appendix A 195
Appendix B 199
References 205
List of Symbols 219
List of Figures 225
|
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| illustrated | Illustrated |
| indexdate | 2024-07-09T18:17:51Z |
| institution | BVB |
| isbn | 3540643206 |
| language | German |
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| physical | XII, 226 S. graph. Darst. |
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| series | Lecture notes in economics and mathematical systems |
| series2 | Lecture notes in economics and mathematical systems |
| spelling | Auer, Ludwig von 1966- Verfasser (DE-588)121053725 aut Dynamic preferences, choice mechanisms, and welfare Ludwig von Auer Berlin ; Heidelberg ; New York ; Barcelona ; Budapest ; Hong Kon Springer 1998 XII, 226 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Lecture notes in economics and mathematical systems 462 Besliskunde gtt Bruikbaarheidstheorie gtt Wiskundige modellen gtt Mathematisches Modell Utility theory -- Mathematical models Decision-making -- Mathematical models Entscheidungstheorie (DE-588)4138606-1 gnd rswk-swf Bekundete Präferenz (DE-588)4120990-4 gnd rswk-swf Bekundete Präferenz (DE-588)4120990-4 s Entscheidungstheorie (DE-588)4138606-1 s DE-604 Lecture notes in economics and mathematical systems 462 (DE-604)BV000000036 462 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008023938&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Auer, Ludwig von 1966- Dynamic preferences, choice mechanisms, and welfare Lecture notes in economics and mathematical systems Besliskunde gtt Bruikbaarheidstheorie gtt Wiskundige modellen gtt Mathematisches Modell Utility theory -- Mathematical models Decision-making -- Mathematical models Entscheidungstheorie (DE-588)4138606-1 gnd Bekundete Präferenz (DE-588)4120990-4 gnd |
| subject_GND | (DE-588)4138606-1 (DE-588)4120990-4 |
| title | Dynamic preferences, choice mechanisms, and welfare |
| title_auth | Dynamic preferences, choice mechanisms, and welfare |
| title_exact_search | Dynamic preferences, choice mechanisms, and welfare |
| title_full | Dynamic preferences, choice mechanisms, and welfare Ludwig von Auer |
| title_fullStr | Dynamic preferences, choice mechanisms, and welfare Ludwig von Auer |
| title_full_unstemmed | Dynamic preferences, choice mechanisms, and welfare Ludwig von Auer |
| title_short | Dynamic preferences, choice mechanisms, and welfare |
| title_sort | dynamic preferences choice mechanisms and welfare |
| topic | Besliskunde gtt Bruikbaarheidstheorie gtt Wiskundige modellen gtt Mathematisches Modell Utility theory -- Mathematical models Decision-making -- Mathematical models Entscheidungstheorie (DE-588)4138606-1 gnd Bekundete Präferenz (DE-588)4120990-4 gnd |
| topic_facet | Besliskunde Bruikbaarheidstheorie Wiskundige modellen Mathematisches Modell Utility theory -- Mathematical models Decision-making -- Mathematical models Entscheidungstheorie Bekundete Präferenz |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008023938&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV000000036 |
| work_keys_str_mv | AT auerludwigvon dynamicpreferenceschoicemechanismsandwelfare |