Consistent planning under quasi-geometric discounting

DOI10.1016/J.JET.2003.10.002zbMath1079.91014OpenAlexW1981673601MaRDI QIDQ705850

Gerhard Sorger

Publication date: 16 February 2005

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

Full work available at URL: https://doi.org/10.1016/j.jet.2003.10.002

zbMATH Keywords

Markov-perfect equilibriumQuasi-geometric discountingSunspot equilibriumTime consistency

Mathematics Subject Classification ID

Decision theory (91B06) Social choice (91B14)

Related Items (7)

Ruling out multiplicity of smooth equilibria in dynamic games: a hyperbolic discounting example ⋮ On a noncooperative stochastic game played by internally cooperating generations ⋮ Two-sided altruism and time inconsistency ⋮ Existence of perfect equilibria in a class of multigenerational stochastic games of capital accumulation ⋮ On uniqueness of time-consistent Markov policies for quasi-hyperbolic consumers under uncertainty ⋮ Time consistent Markov policies in dynamic economies with quasi-hyperbolic consumers ⋮ A multigenerational dynamic game of resource extraction

Uses Software

• DMC

Cites Work

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• Equilibrium welfare and government policy with quasi-geometric discounting
• On the indeterminacy of capital accumulation paths
• Topological entropy of policy functions in concave dynamic optimization models
• An exact discount factor restriction for period-three cycles in dynamic optimization models
• On the least upper bound of discount factors that are compatible with optimal period-three cycles
• Strong and Weak Convexity of Sets and Functions
• Consistent Plans
• Golden Eggs and Hyperbolic Discounting
• Rationalizing Policy Functions by Dynamic Optimization
• On the Existence of a Consistent Course of Action when Tastes are Changing

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