We study future-blind preferences, which are preferences that heavily discount the future, within the space of infinite consumption streams. We give two definitions: N-blindness, where agents ignore periods beyond a fixed date N, and eventual blindness, where all but finitely many dates are neglected. Using a topological approach, we show that the finest topology ensuring eventual blindness coincides with the product topology. This provides a behavioral foundation for continuity in the product topology, which was considered for studying equilibrium existence in infinite-dimensional spaces. Finally, we characterize the dual spaces under these topologies.
Future-blindness and the product topology
Bastianello, Lorenzo
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2026
Abstract
We study future-blind preferences, which are preferences that heavily discount the future, within the space of infinite consumption streams. We give two definitions: N-blindness, where agents ignore periods beyond a fixed date N, and eventual blindness, where all but finitely many dates are neglected. Using a topological approach, we show that the finest topology ensuring eventual blindness coincides with the product topology. This provides a behavioral foundation for continuity in the product topology, which was considered for studying equilibrium existence in infinite-dimensional spaces. Finally, we characterize the dual spaces under these topologies.| File | Dimensione | Formato | |
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Andrade Bastianello Orrillo SCW26 - future blindness and the product topology.pdf
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