Saving and Dissaving With Hyperbolic Discounting

DOI10.3982/ECTA15112zbMath1411.91364OpenAlexW2941302874MaRDI QIDQ4630013

Iván Werning, Dan Cao

Publication date: 29 March 2019

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.3982/ecta15112

zbMATH Keywords

hyperbolic discountingsaving behaviorMarkov equilibriumrobust predictionsequilibrium existence and multiplicity

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42)

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Time-consistent equilibria in dynamic models with recursive payoffs and behavioral discounting ⋮ How the future shapes consumption with time-inconsistent preferences ⋮ Renegotiation and dynamic inconsistency: contracting with non-exponential discounting ⋮ Optimal consumption with time-inconsistent preferences ⋮ Two-sided altruism and time inconsistency ⋮ A simple characterisation for sustained growth ⋮ Necessity of hyperbolic absolute risk aversion for the concavity of consumption functions ⋮ Recursive equilibrium in Krusell and Smith (1998) ⋮ Capital accumulation game with quasi-geometric discounting and consumption externalities ⋮ Blast from the past: the altruism model is richer than you think ⋮ On Markovian collective choice with heterogeneous quasi-hyperbolic discounting ⋮ Saving and dissaving under Ramsey-Rawls criterion

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