Now showing items 1-3 of 3

    • Dynamic preference for flexibility 

      Krishna, RV; Sadowski, P (Econometrica, 2014-01-01)
      We consider a decision maker who faces dynamic decision situations that involve intertemporal trade-offs, as in consumption-savings problems, and who experiences taste shocks that are transient contingent on the state of ...
    • Preferences with Taste Shock Representations: Price Volatility and the Liquidity Premium 

      Krishna, RV; Sadowski, P (Economic Research Initiatives at Duke (ERID), 2016-06-09)
      If price volatility is caused in some part by taste shocks, then it should be positively correlated with the liquidity premium. Our argument is based on Krishna and Sadowski (2014), who provide foundations for a representation ...
    • Randomly Evolving Tastes and Delayed Commitment 

      Krishna, RV; Sadowski, P (Economic Research Initiatives at Duke (ERID), 2016-06-09)
      We consider a decision maker with randomly evolving tastes who faces dynamic decision situations that involve intertemporal tradeoffs, such as those in consumption savings problems. We axiomatize a recursive representation ...