On Multiple Time-Varying Discount Rates with Recursive Time-Dependent Orders

Jean-Pierre Drugeon & Thai Ha-Huy (University of Evry Paris-Saclay)

 

This study addresses time-dependent orders that lead to recursive representations based on a Max-Min configuration.

The article introduces and analyzes a structure that is combined with a time-varying multiple discounts. This setup contributes

to the understanding of the much discussed present biases. A representation result

for robust orders is also presented.

Keywords: Discounts, Multiple Present Biases Axiomatization, Time-Dependent Orders, Time-Varying Multiple

JEL Classification: D11, D15, D90.