2 papers
econ.TH2020
Dynamically Consistent Objective and Subjective Rationality
Lorenzo Bastianello, José Heleno Faro, Ana Santos
A group of experts, for instance climate scientists, is to choose among two policies and . Consider the following decision rule. If all experts agree that the expected utili…
econ.TH2019
Time discounting under uncertainty
Lorenzo Bastianello, José Heleno Faro
We study intertemporal decision making under uncertainty. We fully characterize discounted expected utility in a framework à la Savage. Despite the popularity of this model, no cha…