Time-consistent policies

DOI10.1016/S0022-0531(03)00067-XzbMath1054.91060OpenAlexW3125508259MaRDI QIDQ1414622

In Ho Lee, Larry S. Karp

Publication date: 4 December 2003

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0022-0531(03)00067-x

zbMATH Keywords

StationarityTime inconsistencyOpen-loop policies

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (10)

Characterization of feedback Nash equilibria for multi-channel systems via a set of non-fragile stabilizing state-feedback solutions and dissipativity inequalities ⋮ Linear-quadratic optimal control problems for mean-field stochastic differential equations — time-consistent solutions ⋮ The golden rule when preferences are time inconsistent ⋮ A stochastic linear-quadratic differential game with time-inconsistency ⋮ A new class of problems in the calculus of variations ⋮ Taxes versus quantities for a stock pollutant with endogenous abatement costs and asymmetric information ⋮ EXPLORATION FOR NONRENEWABLE RESOURCES IN A DYNAMIC OLIGOPOLY: AN ARROVIAN RESULT ⋮ The welfare cost of one-size-fits-all patent protection ⋮ Examples in Dynamic Optimal Taxation ⋮ Time consistent fiscal policies in a Ramsey economy

Cites Work

• On time inconsistency: A technical issue in Stackelberg differential games
• On the Stackelberg strategy in nonzero-sum games
• Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives

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