In this paper, we investigate group decision making problems with multiple types of linguistic preference relations. The paper has two parts with similar structures. In the first part, we transform the uncertain additive linguistic preference relations into the expected additive linguistic preference relations, and present a procedure for group decision making based on multiple types of additiv...

This paper extends a heterogeneous agent overlapping generations model by implementing bequests 2 both altruistic and accidental 2 and measures the degrees of time preference and parental altruism through the calibration of the model to the U.S. economy. In this model, a parent household and its adult child households behave consistently and strategically to determine their optimal consumption,...

This paper provides an analytical review of the evaluation of alternative time streams of consumption and the closely related concept of time preference. The potential sensitivity of comparisons, especially to the choice of time preference rate and elasticity of marginal valuation, is demonstrated. The nature of time preference, based on an axiomatic approach, is then discussed. The analysis of...