Discounting Models for Outcomes over Continuous Time

Charles M. Harvey, Lars Peter Østerdal

Research output: Contribution to journalJournal articleResearchpeer-review


Events that occur over a period of time can be described either as sequences of outcomes at discrete times or as functions of outcomes in an interval of time. This paper presents discounting models for events of the latter type. Conditions on preferences are shown to be satisfied if and only if the preferences are represented by a function that is an integral of a discounting function times a scale defined on outcomes at instants of time.
Original languageEnglish
JournalJournal of Mathematical Economics
Issue number5
Pages (from-to)284–294
Publication statusPublished - 2012
Externally publishedYes


  • Continuous time
  • Integral discounting
  • Integral utility function

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