This paper provides an axiomatization of recursive utility functions in an infinite horizon stochastic setting. In addition, some recently developed atemporal non-expected utility theories are integrated axiomatically into an intertemporal framework. The key axioms deal with intertemporal consistency and attitudes towards the temporal resolution of uncertainty.
CITATION STYLE
Chew, S. H., & Epstein, L. G. (1991). Recursive Utility Under Uncertainty (pp. 352–369). https://doi.org/10.1007/978-3-662-07071-0_18
Mendeley helps you to discover research relevant for your work.