Bryan R. Routledge / Carnegie Mellon University

	Exotic Preferences for Macroeconomists
	David K. Backus, Stern School of Business, New York University, and NBER Bryan R. Routledge, Carnegie Mellon University Stanley E. Zin, Carnegie Mellon University and NBER
	June 2004
	ABSTRACT We provide a user's guide to ``exotic'' preferences: nonlinear time aggregators, departures from expected utility, preferences over time with known and unknown probabilities, risk-sensitive and robust control, ``hyperbolic'' discounting, and preferences over sets (``temptations''). We apply each to a number of classic issues in macroeconomics and finance, including consumption and saving, portfolio choice, asset pricing, and Pareto optimal allocations A reading list for a Finance Doctoral Phd course of a similar topic see: Preferences, Behavior, and Asset Prices
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	Data updated: 04.01.2005 15:13

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