Search Results - subject:"time inconsistency."

The Committee on Climate change: A Policy Analysis

McGregor, Peter; Swales, Kim; Winning, Matthew - Economics Department, University of Strathclyde - 2010

policy delegation. In particular we consider its ability to overcome a time inconsistency problem by comparing and …

Persistent link: https://www.econbiz.de/10008784687

Optimal Policy Instruments for Externality-Producing Durable Goods under Time Inconsistency

Heutel, Garth - Economics Department, Bryan School of Business and Economics - 2010

failures caused by externalities—Pigouvian pricing—is suboptimal under time inconsistency. I investigate how public policies …

Persistent link: https://www.econbiz.de/10008641435

"A Post Keynesian Perspective on the Rise of Central Bank Independence: A Dubious Success Story in Monetary Economics"

Bibow, Jorg - Levy Economics Institute - 2010

such a case. The theoretical support for CBI ostensibly provided by modeling exercises on the so-called time-inconsistency …

Persistent link: https://www.econbiz.de/10008679841

A Non-Unitary Discount Rate Model

Futagami, Koichi; Hori, Takeo - Graduate School of Economics, Osaka University - 2010

non-unitary discount rate model, the preferences of the agent are time-inconsistent. The source of the time inconsistency …

Persistent link: https://www.econbiz.de/10008683255

Why Stare Decisis ?

Anderlini, Luca; Felli, Leonardo; Riboni, Alessandro - Université Paris-Dauphine (Paris IX) - 2010

All Courts rule ex-post, after most economic decisions are sunk. This might generate a time-inconsistency problem. From … decisis guarantees that precedents evolve towards ex-ante efficient decisions, thus alleviating the Courts' time-inconsistency …

Persistent link: https://www.econbiz.de/10010707872

A Rib Less Makes you Consistent but Impatient: A Gender Comparison of Expert Chess Players

Gränsmark, Patrik - Institutet för Social Forskning (SOFI), Stockholms … - 2010

This paper presents empirical findings on gender differences in time preference and time inconsistency which are based …

Persistent link: https://www.econbiz.de/10008465238

A Time-Invariant Duration Policy under the Zero Lower Bound

Ueda, Kozo - Institute for Monetary and Economic Studies, Bank of Japan - 2010

Optimal commitment policy under the zero lower bound entails a high degree of complexity and time-inconsistency in a …. Consequently, the time- inconsistency problem does not increase even if the ex post spell of the adverse shocks lengthens, and …

Persistent link: https://www.econbiz.de/10008460606

Obesity and Hyperbolic Discounting: An Experimental Analysis

Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, … - Agricultural and Applied Economics Association - AAEA - 2010

Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent...

Persistent link: https://www.econbiz.de/10009020464

Time is Money : Arithmetic Discounting Outperforms Hyperbolic and Exponential Discounting

Doyle, John R.; Chen, Catherine Huirong - 2010

Hyperbolic discounting (H) is currently the dominant behavioral model of intertemporal choice, since it better explains how people behave than the normatively correct exponential discounting model (E). This paper promotes an arithmetic discounting model (A) which challenges H. First, A is more...

Persistent link: https://www.econbiz.de/10014045248

Government Debt Dynamics Under Discretion

Occhino, Filippo - 2010

This paper studies the dynamics of state-contingent government debt in the case that the fiscal authority cannot commit to a policy in the future. Under commitment, optimal policy calls for letting debt follow a stationary process and take values that depend on the initial outstanding...

Persistent link: https://www.econbiz.de/10014195160