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2005-03-18
英文文献:Time for Memorable Consumption-难忘消费时光
英文文献作者:Stefania Minardi,Andrei Savochkin
英文文献摘要:
A consumption event is memorable if the memory of it affects well-being at times after the material consumption. We develop an axiomatic model of memorable consumption in a dynamic setting. Preferences are represented by the present value of the sum of utilities derived at each date from the current consumption and from recollecting the past. Our model accommodates wellknown phenomena in psychology, such as the peak-end rule, duration neglect, and adaptation trends. We provide foundations for a prominent special case of memory that has the Markovian property. The model is illustrated in application to life-cycle consumption-savings decisions and asset pricing.

如果在物质消费之后,消费事件的记忆有时会影响到人们的幸福感,那么消费事件就是值得纪念的。我们开发了一个动态设置下难忘消费的公理模型。偏好由每个日期从当前消费和回忆过去得到的效用总和的现值表示。我们的模型适应了心理学中著名的现象,如高峰-终点规则、持续时间忽略和适应趋势。我们为具有马尔可夫特性的记忆的一个突出的特殊情况提供了基础。该模型在生命周期消费-节约决策和资产定价中得到了应用。
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