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"Recursive Preferences,"

Authors: Backus, David
Routledge, Bryan R.
Zin, Stanley E.
Keywords: time preference;risk;uncertainty;ambiguity;robust control;temptation;dynamic consistency;hyperbolic discounting;precautionary saving;equity premium;risk sharing
Issue Date: 5-Dec-2005
Series/Report no.: EC-05-19
Abstract: We summarize the class of recursive preferences. These preferences fit naturally with recursive solution methods and hold the promise of generating new insights into familiar problems. Portfolio choice is used as an example.
Appears in Collections:Economics Working Papers

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