An intertemporal model of growing awareness

This paper presents an intertemporal model of growing awareness. It provides a framework for analyzing problems with long time horizons in the presence awareness and unawareness. The generalizes both standard event-tree from Karni Vierø (2017) Axioms representation are provided along recursive formulation utility. allows tractable consistent analysis To illustrate relevance dynamic decision making, is applied to representative agent asset pricing problem.