Time inconsistency: today’s actions = tomorrow’s regrets

Have you ever bought something you really couldn’t afford? You simply swipe your credit card and leave the store with something shiny and new. That instant gratification overpowers any thought of the regret you’ll have when you must start paying off your accumulated debt. Economists call this phenomenon time inconsistency. Read the September 2011 newsletter for some ideas on how to prevent time inconsistency for yourself and your government.

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Year of publication:	2011
Authors:	Vermann, E. Katarina
Published in:	Page One Economics Newsletter. - Federal Reserve Bank of St. Louis. - 2011, September
Publisher:	Federal Reserve Bank of St. Louis
Subject:	Consumer behavior

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010690266