| Article ID: | iaor1989275 |
| Country: | Switzerland |
| Volume: | 19 |
| Start Page Number: | 171 |
| End Page Number: | 179 |
| Publication Date: | May 1989 |
| Journal: | Annals of Operations Research |
| Authors: | Bordley Robert F. |
This paper generalizes the theory of intertemporal utility functions to allow for expectations. The resulting model describes the ‘reference effect’ phenomenon noted by Kahneman and Tversky in both deterministic as well as stochastic problem situations.