Utility Functions for Infinite-Period Planning

This paper presents a systematic discussion of decision analysis models for attitudes toward risk when the effects of a public policy choice extend into the distant or unbounded future. Several issues of social risk attitudes are identified and discussed. Conditions on preferences are presented by which value judgments concerning these issues can be included in a formal model for a public policy evaluation.

• 저널Management Science · 34(5) · 645–665
• 토픽Economic and Environmental Valuation · Economics and Econometrics
• DOI10.1287/mnsc.34.5.645
• 저자Charles M. Harvey