Before revision:  We  explore a number of applications , including a representation of stationary, monotone time preferences, generalizing Fishburn and Rubinstein (1982) to time lotteries  .
After revision:  We explore a number of applications , including a representation of stationary, monotone time preferences, generalizing Fishburn and Rubinstein (1982) to time lotteries , as well as a characterization of risk-averse preferences over monetary gambles that are invariant to mean-zero background risks .