This paper discusses the discounted utility (DU) model: its historical development, underlying assumptions, and "anomalies" - the empirical regularities that are inconsistent with its theoretical predictions. We then summarize the alternate theoretical formulations that have been advanced to address these anomalies. We also review three decades of empirical research on intertemporal choice, and discuss reasons for the spectacular variation in implicit discount rates across studies. Throughout the paper, we stress the importance of distinguishing time preference, per se, from many other considerations that also influence intertemporal choices.

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Time Discounting and Time Preference: A Critical Review

"Parameter Estimation and Inverse Problems, 2/e" provides geoscience students and professionals with answers to common questions like how one can derive a physical model from a finite set of observations containing errors, and how one may determine the quality of such a model. This book takes on these fundamental and challenging problems, introducing students and professionals to the broad range of approaches that lie in the realm of inverse theory. The authors present both the underlying theory and practical algorithms for solving inverse problems. The authors' treatment is appropriate for geoscience graduate students and advanced undergraduates with a basic working knowledge of calculus, linear algebra, and statistics. "Parameter Estimation and Inverse Problems, 2/e" introduces readers to both Classical and Bayesian approaches to linear and nonlinear problems with particular attention paid to computational, mathematical, and statistical issues related to their application to geophysical problems. The textbook includes Appendices covering essential linear algebra, statistics, and notation in the context of the subject. This book includes a companion website that features computational examples (including all examples contained in the textbook) and useful subroutines using MATLAB. It: includes appendices for review of needed concepts in linear, statistics, and vector calculus; features a companion website that contains comprehensive MATLAB code for all examples, which readers can reproduce, experiment with, and modify; offers an online instructor's guide that helps professors teach, customize exercises, and select homework problems; and, is accessible to students and professionals without a highly specialized mathematical background.

/pdf/parameter-estimation-and-inverse-problems-370q4164ci.pdf

Parameter estimation and inverse problems

In this paper, we question the simplicity of the common prescription that more thinking leads to better 26 moral choices In three studies, we discover that the relationship between how complexly one reasons 27 before making a decision with moral consequences is related to the outcome of that decision in a curvi

/pdf/organizational-behavior-and-human-decision-processes-1vnv40obes.pdf

Organizational Behavior and Human Decision Processes

The Theory of Monopolistic Competition.

http://www.econ.ucsd.edu/~rstarr/2012013Webpage/Aumann%20Journal%20of%20Mathematical%20Analysis%20and%20Applications%201965.pdf

Integrals of set-valued functions

Probability theory has had an almost unquestioned foundation since Kolmogorov (1933) [111]. Probability is a (normalized) measure on an algebra of events i.e. subsets of an arbitrary set. The probability of an event may be a result in a theory about any part of the real world. It may be an assumption that the beliefs or knowledge of agents can be expressed as total preorders on a system of subsets of events. Theorem 9 page 98 then gives probability as a representation of this relation. Under the assumptions of this representation theorem the two assumptions — a total preorder on an algebra or a probability measure on this algebra — are therefore equivalent.

Karl Vind

Papers

A foundation for statistics

Edgeworth-allocations in an exchange economy with many traders

On State Dependent Preferences and Subjective Probabilities

Fair Net Trades

A third remark on the core of an atomless economy