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An alternative axiomatization of intertemporal utility smoothing

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Volume
119
Issue
2
Identifiers
DOI: 10.1016/j.econlet.2013.02.025
Keywords
  • Discount Factor
  • Utility Smoothing
  • Recursive Utility

Abstract

Highlights • We axiomatize a model of intertemporal utility smoothing. • The axiomatization does not require introducing auxiliary consumption risk. • We derive a particular form of the aggregator function in the recursive utility.

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