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METHOD:PUBLISH
BEGIN:VEVENT
DTSTAMP:20250330T215829Z
DTSTART:20250402T160000Z
DTEND:20250402T170000Z
SUMMARY:MET Seminar - Craig Webb
UID:{http://www.columbasystems.com/customers/uom/gpp/eventid/}zjl-m0161rq
 w-nnotwj
DESCRIPTION:Title: Time Tradeoffs for the Foundations and Analysis of Dis
 counted Non-Stationary Utility\n\nAuthor: Craig Webb\n\nAbstract: Tastes
  change as time passes. This simple truth can be expressed in a discount
 ed utility framework by allowing utility to be non-stationary. This pape
 r provides an analysis and a complete\, theoretical foundation for disco
 unting non-stationary utility in a framework of consumption streams in c
 ontinuous time. The concept of time tradeoffs is developed. Time tradeof
 fs reveal\, through preferences\, how future time intervals are weighted
 . Using time tradeoffs\, relative convexity\, comparative decreasing imp
 atience\, is characterised. Time tradeoff invariance and consistency axi
 oms are formulated that characterise discounted non-stationary utility a
 nd the special case of exponentially discounted non-stationary utility. 
 It is shown that\, in this context\, stationarity of utility is recovere
 d if and only if preferences are time invariant.\n\nContact: david.delac
 retaz@manchester.ac.uk
STATUS:TENTATIVE
TRANSP:TRANSPARENT
CLASS:PUBLIC
LOCATION:Boardroom 2.016\, Arthur Lewis Building\, Manchester
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