Building upon the works of Gilboa [Econometrica 57 (1989) 1153], Shalev [Math. Soc. Sci. 33 (1997) 203], and De Waegenaere and Wakker [J. Math. Econ. 36 (2001) 45], we show that a simple version of variation aversion, jointly with a myopia axiom allows to derive in an infinite setting a meaningful expression for evaluating income streams. Furthermore, we prove that the usual additive discounted expectation introduced by Koopmans [Koopmans, T.C., 1972. Representations of preference orderings over time. In: McGuire, C.B., Radner, R. (Eds.), Decisions and Organizations. North-Holland, Amsterdam, pp. 79-100] can be accommodated in a non-additive way.