Evolution of time preferences and attitudes toward risk

Abstract

This paper explores a general model of the evolution and adaption of hedonic utility. It is shown that optimal utility will be increasing strongly in regions where choices have to be made often and decision mistakes have a severe impact on fitness. Several applications are suggested. In the context of intertemporal preferences, the model offers an… (More)

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Cite this paper

@inproceedings{Robson2009EvolutionOT, title={Evolution of time preferences and attitudes toward risk}, author={Arthur J. Robson and Antonio Damasio}, year={2009} }