The DOI matches its Crossref record.
Nonexpected Utility in Macroeconomics
Abstract
This paper introduces, within the context of an infinite horizon optimal consumption problem, a parametric class of Kreps-Porteus nonexpected utility preferences—generalized isoelastic utility—which distinguishes attitudes toward risk from behavior toward intertemporal substitution. Some of the theoretical and empirical implications for macroeconomics of these state- and time-nonseparable preferences are examined.
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Citations
Cited by
Barsky, R. B., Juster, F. T., Kimball, M. S., & Shapiro, M. D. (1997) · The Quarterly Journal of Economics · doi:10.1162/003355397555280 · Cited by 2,400
Deaton, A. (1992) · doi:10.1093/0198288247.001.0001 · Cited by 1,427
The Economics of Risk and Time
Gollier, C. (2001) · The MIT Press eBooks · doi:10.7551/mitpress/2622.001.0001 · Cited by 1,356
Can Time‐Varying Risk of Rare Disasters Explain Aggregate Stock Market Volatility?
WACHTER, J. A. (2013) · The Journal of Finance · doi:10.1111/jofi.12018 · Cited by 910
Lucas, R. E. (2003) · American Economic Review · doi:10.1257/000282803321455133 · Cited by 909
Metadata
- Authors
- Weil, P.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1990-02
- Volume
- 105
- Issue
- 1
- Pages
- 29
- ISSN
- 0033-5533 (ISSN-L)
- OpenAlex
- W2019265923
- Cited by
- 972
- References
- 0
- FWCI
- 55.57
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Nonexpected Utility in Macroeconomics. https://app.cochat.ai/papers/10.2307/2937817
- The paper
- Weil, P. (1990). Nonexpected Utility in Macroeconomics. The Quarterly Journal of Economics. https://doi.org/10.2307/2937817
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
