Search Results - subject:"Dynamic Consistency"

Preference for Flexibility and Dynamic Consistency

Riella, Gil - In: Journal of Economic Theory 148 (2013) 6, pp. 2467-2482

subjective version of Dynamic Consistency and that it implies that the decision maker is a subjective state space Bayesian … of a unique subjective state space and a prior. We investigate what would be the appropriate version of Dynamic … Consistency in such a setup. The condition we find, which we call Flexibility Consistency, is linked to a comparative theory of …

Persistent link: https://www.econbiz.de/10010719006

Preference for flexibility and dynamic consistency

Riella, Gil - In: Journal of economic theory 148 (2013) 6, pp. 2467-2482

Persistent link: https://www.econbiz.de/10010257924

Investment, dynamic consistency and the sectoral regulator’s objective

Brito, Duarte; Pereira, Pedro; Vareda, João - In: The B.E. journal of economic analysis & policy 13 (2013) 2, pp. 563-594

Persistent link: https://www.econbiz.de/10010236696

Radner equilibria under ambiguous volatility

Beißner, Patrick - 2013

The present paper considers a class of general equilibrium economics when the primitive uncertainty model features uncertainty about continuous-time volatility. This requires a set of mutually singular priors, which do not share the same null sets. For this setting we introduce an appropriate...

Persistent link: https://www.econbiz.de/10010212527

Turning a Blind Eye: Costly Enforcement, Credible Commitment and Minimum Wage Laws

Basu, Arnab K.; Chau, Nancy H.; Kanbur, Ravi - Charles H. Dyson School of Applied Economics and … - 2005

In many countries, the authorities turn a blind eye to minimum wage laws that they have themselves passed. But if they are not going to enforce a minimum wage, why have one? Or if a high minimum wage is not going to be enforced one hundred percent, why not have a lower one in the first place?...

Persistent link: https://www.econbiz.de/10010921187

Adequate Moods for Non-EU Decision Making in a Sequential Framework

Etchart, Nathalie - HAL - 2005

dynamic consistency (DC), which may in turn have undesirable normative consequences. This result thus questions the normative …

Persistent link: https://www.econbiz.de/10008793411

Expanding state space and extension of beliefs

Hayashi, Takashi - In: Theory and Decision 73 (2012) 4, pp. 591-604

subjective expected utility theory. We propose a dynamic consistency condition that after any expansion of the scope, the …

Persistent link: https://www.econbiz.de/10010865791

When is ambiguity–attitude constant?

Eichberger, Jürgen; Grant, Simon; Kelsey, David - In: Journal of Risk and Uncertainty 45 (2012) 3, pp. 239-263

preserve ambiguity attitude. We relate this to necessary and sufficient conditions for dynamic consistency. Finally, we study …

Persistent link: https://www.econbiz.de/10010987822

A dynamic Ellsberg urn experiment

Dominiak, Adam; Duersch, Peter; Lefort, Jean-Philippe - In: Games and Economic Behavior 75 (2012) 2, pp. 625-638

Many theories of updating under ambiguity assume either dynamic consistency or consequentialism to underpin … consequentialism than with dynamic consistency and that this result is even stronger among ambiguity averse subjects. …

Persistent link: https://www.econbiz.de/10011049819

Nest-monotonic two-stage acts and exponential probability capacities

Koida, Nobuo - In: Economic Theory 50 (2012) 1, pp. 99-124

Persistent link: https://www.econbiz.de/10010557783