Psychological Expected Utility Theory and Anticipatory Feelings

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ID: 303334
2001
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Abstract
We extend expected utility theory to situations in which agents experience feelings of anticipation prior to the resolution of uncertainty. We show how these anticipatory feelings may result in time inconsistency. We provide an example from portfolio theory to illustrate the potential impact of anticipation on asset prices.
Reference Key
openalex_W2157033237 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Andrew Caplin, John Leahy
Journal the quarterly journal of economics
Year 2001
DOI
10.1162/003355301556347
URL
Keywords Keywords not found

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