Psychological expected utility theory and anticipatory feelings

被引：383
作者：
Caplin, A [1 ]
Leahy, J
机构：
[1] NYU, New York, NY 10003 USA
[2] Boston Univ, Boston, MA 02215 USA
来源：
QUARTERLY JOURNAL OF ECONOMICS | 2001年 / 116卷 / 01期
基金：
美国国家科学基金会;
关键词：
D O I：
10.1162/003355301556347
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We extend expected utility theory to situations in which agents experience feelings of anticipation prior to the resolution of uncertainty. We show how these anticipatory feelings may result in time inconsistency. We provide an example from portfolio theory to illustrate the potential impact of anticipation on asset prices.
引用
收藏
页码：55 / 79
页数：25
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