Excerpt from On Intertemporal Preferences in Continuous Time: The Case of Certainty Different topologies on the Space of certain consumption patterns in a continuous time setting are discussed. A family of topologies which give an economically reasonable sense of closeness and have an appropriate intertemporal flavor is suggested. Strictly concave time - additive utility functions are not continuous in this topology, since they yield preferences with the property that consumption at nearly adjacent dates are perfect ...
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Excerpt from On Intertemporal Preferences in Continuous Time: The Case of Certainty Different topologies on the Space of certain consumption patterns in a continuous time setting are discussed. A family of topologies which give an economically reasonable sense of closeness and have an appropriate intertemporal flavor is suggested. Strictly concave time - additive utility functions are not continuous in this topology, since they yield preferences with the property that consumption at nearly adjacent dates are perfect non-substitutes. The topological duals of our suggested topologies are spaces of absolutely continuous functions whose derivatives satisfy cer tain boundedness restrictions. A utility function that is continuous in the suggested topologies and that captures an intuitively appealing notion of time complementarity of consumption is provided. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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