Calendrier du 01 mars 2018
TOM (Théorie, Organisation et Marchés) Lunch Seminar
Du 01/03/2018 de 12:30 à 13:30
salle R2-20, campus Jourdan - 48 bd Jourdan 75014 Paris
HA-HUY Thai (Université de Cergy )
A Not so Myopic Axiomatization of Discounting
écrit avec Jean-Pierre Drugeon
This article builds an axiomatization of inter-temporal trade-offs that makes an explicit account of the distant future and thus encompasses motives related to sustainability, transmission to offsprings and altruism. The focus is on separable representations and the approach is completed following a decision-theory index based approach that is applied to infinite dimension streams. This enlightens the limits of the commonly used flat tail intensity requesites for the evaluation of utility sequences: in this article, these are supersed and replaced by an axiomatic approach to optimal myopy degrees that in its turn precedes the determination of optimal discount. The overall approach is anchored on the new and explicit proof of a temporal decomposition of the preference orders between the distant future and the close future itself directly anchored on the determination of the optimal myopia degrees. The argument is shown to provide a novel understanding of temporal biases with the scope for a distant future bias when the finite dimensional gets influenced by the infinite dimensional. The reference to robust orders and pessimism-like axioms finally allows for determining tractable representations for the indexes.