TY  - JOUR
AU  - Backus, David
AU  - Routledge, Bryan
AU  - Zin, Stanley
TI  - Exotic Preferences for Macroeconomists
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10597
PY  - 2004
Y2  - June 2004
DO  - 10.3386/w10597
UR  - http://www.nber.org/papers/w10597
L1  - http://www.nber.org/papers/w10597.pdf
N1  - Author contact info:
David Backus
Stern School of Business
NYU
44 West 4th Street
New York, NY 10012-1126
Tel: 212/998-0873
Fax: 212/995-4221
E-Mail: N/A user is deceased

Bryan Routledge
Tepper School of Business
Carnegie Mellon University
5000 Forbes Ave
Pittsburgh, PA  15213-3890
Tel: 412-268-7588
E-Mail: routledge@cmu.edu

Stanley E. Zin
Department of Economics
Leonard N. Stern School of Business
New York University
44 West 4th Street, Suite 7-91
New York, NY 10012-1126
Tel: 212/998-0121
E-Mail: stan.zin@nyu.edu
M1  - published as David K. Backus, Bryan R. Routledge, Stanley E. Zin. "Exotic Preferences for Macroeconomists," in Mark Gertler and Kenneth Rogoff, editors, "NBER Macroeconomics Annual 2004, Volume 19" MIT Press (2005)

AB  - We provide a user's guide to  exotic' preferences: nonlinear time aggregators, departures from expected utility, preferences over time with known and unknown probabilities, risk-sensitive and robust control,  hyperbolic' discounting, and  preferences over sets ( temptations'). We apply each to a number of classic problems in macroeconomics and finance, including consumption and saving, portfolio choice, asset pricing, and Pareto optimal allocations.
ER  -