Removed preferences

• 成果类型: Article
• 署名作者: Noor, Jawwad
• 署名单位: Boston University
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2013.04.001
• 发表日期: 2013
• 页码: 1463-1486
• 关键词: Psychological distance; Veil of ignorance; Behavioral welfare; discounting; probability weighting

摘要

In formalizing a 'veil of ignorance' type procedure, this paper considers how an agent's preferences over a set of alternatives change as he is placed at an increasing 'distance' from the consequences of his choices. A definition for such 'removed preferences' is presented and its properties studied. As an application, it is demonstrated that present biased agents are 'essentially' exponential when distanced from the present, and that rank-dependent expected utility agents are 'essentially' expected utility when distanced from risk. (C) 2013 Elsevier Inc. All rights reserved.