WP 2011-04 Multiattribute Utility Theory, Intertemporal Utility and Correlation Aversion

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Published in 2018 in International Economic Review, Volume 59, Number 2.

ABSTRACT: Convenient assumptions about qualitative properties of the intertemporal utility function have generated counterintuitive implications for the relationship between atemporal risk aversion and the intertemporal elasticity of substitution. If the intertemporal utility function is additively separable, then the latter two… more »