Modeling the inconsistency in intertemporal choice: the generalized Weibull discount function and its extension

被引：10

作者：

Cruz Rambaud S. ^{[1
]}

González Fernández I. ^{[1
]}

Ventre V. ^{[2
]}

机构：

[1] Departamento de Economía y Empresa, Universidad de Almería, La Cañada de San Urbano, s/n, Almería

[2] Dipartimento di Matematica e Fisica, Università della Campania “Luigi Vanvitelli”, Viale Lincoln, 5, Caserta

来源：

Annals of Finance | 2018年 / 14卷 / 3期

关键词：

Dynamic inconsistency; Exponential; Generalized Weibull discount function; Hyperbolic; q-exponential;

D O I：

10.1007/s10436-018-0318-3

中图分类号：

学科分类号：

摘要：

The aim of this paper is to obtain the family of the so-called generalized Weibull discount functions, introduced by Takeuchi (Game Econ Behav 71:456–478, 2011), by deforming the q-exponential discount function by means of the Stevens’ “power” law. The obtained discount functions exhibit different degrees of inconsistency and so they can be classified according to the value of their characteristic deforming parameters. Moreover, we extend the construction of the generalized Weibull discount function starting from any discount function instead of the q-exponential discounting. In any case, the value of the parameter θ of these new discount functions is extended from (0, 1] to the union of the intervals (-∞,0)∪(0,+∞). © 2018, Springer-Verlag GmbH Germany, part of Springer Nature.

引用

页码：415 / 426

页数：11

共 22 条

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