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On the Dividend Strategies with Non-Exponential Discounting [PDF]
, 2013 In this paper, we study the dividend strategies for a shareholder with non-constant discount rate in a diffusion risk model. We assume that the dividends can only be paid at a bounded rate and restrict ourselves to the Markov strategies. This is a time inconsistent control problem.
Qian Zhao, Jiaqin Wei, Rongming Wang
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Discount models in intertemporal choice: an empirical analysis [PDF]
European Journal of Management and Business Economics, 2021 Purpose – The main purpose of this paper is to determine the discount function which better fits the individuals' preferences through the empirical analysis of the different functions used in the field of intertemporal choice. Design/methodology/approach
Isabel María Parra Oller +2 more
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Measurement of Individual Time Preferences Using A Laboratory Approach [PDF]
فصلنامه پژوهشهای اقتصادی ایران, 2023 The precise measurement of individual time preferences in assessing the economic plans that individuals are involved in, in the estimation of social time preferences, in the assessment of environmental and health plans is very crucial.
Mohammad Amin Zandi
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Reinforcement Learning with Non-Exponential Discounting [PDF]
, 2022 Commonly in reinforcement learning (RL), rewards are discounted over time using an exponential function to model time preference, thereby bounding the expected long-term reward. In contrast, in economics and psychology, it has been shown that humans often adopt a hyperbolic discounting scheme, which is optimal when a specific task termination time ...
Schultheis, Matthias +2 more
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Observational Implications of Non-Exponential Discounting [PDF]
Revue économique, 2020 Dans cette note, nous donnons un exemple élémentaire avec une fonction d’utilité concave où la règle d’épargne essentiellement unique et consistante est discontinue ; une telle règle d’épargne ne peut pas survenir avec une fonction d’escompte exponentielle.
Morris, Stephen, Postlewaite, Andrew
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A Model Guided Approach to Evoke Homogeneous Behavior During Temporal Reward and Loss Discounting
Frontiers in Psychiatry, 2022 BackgroundThe tendency to devaluate future options as a function of time, known as delay discounting, is associated with various factors such as psychiatric illness and personality.
Janine Thome +9 more
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Controlled Markov chains with non-exponential discounting and distribution-dependent costs [PDF]
ESAIM: Control, Optimisation and Calculus of Variations, 2021 This paper deals with a controlled Markov chain in continuous time with a non-exponential discounting and distribution-dependent cost functional. A definition of closed-loop equilibrium is given and its existence and uniqueness are established. Due to the time-inconsistency brought by the non-exponential discounting and distribution dependence, it is ...
Mei, Hongwei, Yin, George
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Thinking Outside the Euclidean Box: Riemannian Geometry and Inter-Temporal Decision-Making. [PDF]
PLoS ONE, 2016 Inter-temporal decisions involves assigning values to various payoffs occurring at different temporal distances. Past research has used different approaches to study these decisions made by humans and animals.
Himanshu Mishra, Arul Mishra
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On dividend strategies with non-exponential discounting [PDF]
Insurance: Mathematics and Economics, 2014 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Qian Zhao, Jiaqin Wei, Rongming Wang
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UGAE: A Novel Approach to Non-exponential Discounting
, 2023 The discounting mechanism in Reinforcement Learning determines the relative importance of future and present rewards. While exponential discounting is widely used in practice, non-exponential discounting methods that align with human behavior are often desirable for creating human-like agents.
Kwiatkowski, Ariel +3 more
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