Search Results - subject:"Inconsistency"

Evolution Equations of Discount Functions and Metrics of Dynamic Inconsistency

Chorvat, Terrence R. - 2019

dynamic inconsistency of behavioral models that gives them their most salient features. The article then develops evolution … equations for some of the most prominent continuous discounting models to more clearly consider their dynamic inconsistency. It … then proposes metrics for the degree of dynamic inconsistency exhibited by discounting models allowing comparison of …

Persistent link: https://www.econbiz.de/10012860111

Uncertainty Under Hyperbolic Discounting : The Cost of Untying Your Hands

Alcocer, Christian - 2019

Persistent link: https://www.econbiz.de/10012858166

Optimal Risk Sharing with Time Inconsistency and Long-Run Risk

Tancheva, Zhaneta - 2019

I examine the role of time inconsistency, modeled by hyperbolic discounting, for the dynamics of asset prices and the …

Persistent link: https://www.econbiz.de/10012859110

Optimistic Dynamic Inconsistency

Tang, Rui - 2019

We model a decision maker who anticipates her preference to change in the future, and optimistically evaluates each menu according to the best choice that could possibly be made by her future self. We characterize this menu preference by axioms weak order, independence, semi-continuity,...

Persistent link: https://www.econbiz.de/10012859228

Hyperbolic discounting in the absence of credibility

Cavatorta, Elisa; Groom, Benjamin - 2019

Persistent link: https://www.econbiz.de/10012198348

Sin taxes, insurance and the correction of internalities

Kalamov, Zarko Y.; Runkel, Marco - 2019

decision. A government may tax the sin good and provide mandatory health insurance. Due to time-inconsistency, the individual …

Persistent link: https://www.econbiz.de/10012312290

Uncertainty under hyperbolic discounting : the cost of untying your hands

Alcocer, Christian Diego; Ortegón, Julián; Roa, Alejandro - In: Journal of economics, finance & administrative science 24 (2019) 48, pp. 176-193

Purpose The relevance of present consumption bias on personal finance has been confirmed in several studies and has important theoretical and practical implications. It has important, measurable implications when analyzing commitment or self-control, adherence to healthy habits (e.g. exercising...

Persistent link: https://www.econbiz.de/10012128806

Essays on time preferences and expectations in dynamic decision making

Schneider, Ulrich - 2019

Persistent link: https://www.econbiz.de/10012130536

Computing the distribution : adaptive finite volume methods for economic models with heterogeneous agents

Ahn, SeHyoun - 2019

Solving economic models with heterogenous agents requires computing aggregate dynamics consistent with individual behaviors. This paper introduces the ?nite volume method from the mathe-matics literature to enlarge the set of numerical methods available to compute dynamics in continuous time....

Persistent link: https://www.econbiz.de/10012115117

Central bank independence : a rigged debate based on false politics and economics

Palley, Thomas - 2019

The case for central bank independence is built on an intellectual two-step. Step one argues there is a problem of inflation prone government. Step two argues independence is the solution to that problem. This paper challenges that case and shows it is based on false politics and economics. The...

Persistent link: https://www.econbiz.de/10012104487