@inproceedings{b5c08293bb154dc8b9c0c13da6121a2c,
title = "History-dependent random discounting",
abstract = "In the literature of dynamic models under uncertainty, it is commonly assumed that uncertainty is resolved gradually over time and its resolution is independent of the actions taken by a decision maker up to that time period. However, contingencies in the decision maker's mind may change and even increase over time according to habits that have evolved by experiences, actions, or consumptions in the past. We provide an axiomatic model where the decision maker faces uncertainty about her own time preference or discount factors in future and these uncertainty may evolve according to histories or habits from the past consumption.",
keywords = "Endogenous time preference, Habits, Preference for flexibility, Random discounting, Subjective states",
author = "Youichiro Higashi and Kazuya Hyogo and Norio Takeoka",
year = "2009",
month = nov,
day = "26",
doi = "10.1063/1.3241646",
language = "English",
isbn = "9780735407091",
series = "AIP Conference Proceedings",
pages = "965--968",
booktitle = "Numerical Analysis and Applied Mathematics - International Conference on Numerical Analysis and Applied Mathematics 2009, ICNAAM-2009",
note = "International Conference on Numerical Analysis and Applied Mathematics 2009, ICNAAM-2009 ; Conference date: 18-09-2009 Through 22-09-2009",
}