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Collective Dynamic Choice: The Necessity of Time Inconsistency

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Cited by:

  1. Tangren Feng & Shaowei Ke, 2018. "Social Discounting and Intergenerational Pareto," Econometrica, Econometric Society, vol. 86(5), pages 1537-1567, September.
  2. Marina Halac & Pierre Yared, 2022. "Fiscal Rules and Discretion Under Limited Enforcement," Econometrica, Econometric Society, vol. 90(5), pages 2093-2127, September.
  3. Antony Millner & Geoffrey Heal, 2015. "Collective intertemporal choice: time consistency vs. time invariance," GRI Working Papers 220, Grantham Research Institute on Climate Change and the Environment.
  4. Lu, Lijue & Marín-Solano, Jesús & Navas, Jorge, 2019. "An analysis of efficiency of time-consistent coordination mechanisms in a model of supply chain management," European Journal of Operational Research, Elsevier, vol. 279(1), pages 211-224.
  5. Sprumont, Yves, 2018. "Preference aggregation under binary uncertainty," Journal of Mathematical Economics, Elsevier, vol. 78(C), pages 64-67.
  6. Jean-Pierre Drugeon & Bertrand Wigniolle, 2021. "On Markovian collective choice with heterogeneous quasi-hyperbolic discounting," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(4), pages 1257-1296, November.
  7. Jean-Pierre Drugeon & Bertrand Wigniolle, 2017. "On Time-Consistent Collective Choice with Heterogeneous Quasi- Hyperbolic Discounting," PSE Working Papers halshs-01662833, HAL.
  8. Daron Acemoglu & Georgy Egorov & Konstantin Sonin, 2018. "Social Mobility and Stability of Democracy: Reevaluating De Tocqueville," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 133(2), pages 1041-1105.
  9. Barberà, Salvador & Bossert, Walter, 2023. "Opinion aggregation: Borda and Condorcet revisited," Journal of Economic Theory, Elsevier, vol. 210(C).
  10. Glätzle-Rützler, Daniela & Lergetporer, Philipp & Sutter, Matthias, 2021. "Collective intertemporal decisions and heterogeneity in groups," Games and Economic Behavior, Elsevier, vol. 130(C), pages 131-147.
  11. Victor H Aguiar & Nail Kashaev, 2021. "Stochastic Revealed Preferences with Measurement Error [Consistency between Household-level Consumption Data from Registers and Surveys]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 2042-2093.
  12. Marcela De Castro-Valderrama, 2021. "Present-biased Government, Creative Accounting and a Pitfall in Balanced Budget Rules," Borradores de Economia 1183, Banco de la Republica de Colombia.
  13. Yariv, Leeat & Jackson, Matthew O., 2018. "The Non-Existence of Representative Agents," CEPR Discussion Papers 13397, C.E.P.R. Discussion Papers.
  14. Nina Anchugina & Matthew Ryan & Arkadii Slinko, 2016. "Aggregating time preferences with decreasing impatience," Papers 1604.01819, arXiv.org.
  15. Bach Dong Xuan & Philippe Bich & Bertrand Wigniolle, 2022. "On multiple discount rates and present bias," Working Papers halshs-03884664, HAL.
  16. Borissov, Kirill & Pakhnin, Mikhail & Puppe, Clemens, 2017. "On discounting and voting in a simple growth model," European Economic Review, Elsevier, vol. 94(C), pages 185-204.
  17. Chiaki Hara, 2019. "Heterogeneous Impatience of Individual Consumers and Decreasing Impatience of the Representative Consumer," KIER Working Papers 1009, Kyoto University, Institute of Economic Research.
  18. Marina Agranov & Jeongbin Kim & Leeat Yariv, 2023. "Coordination with Differential Time Preferences: Experimental Evidence," CESifo Working Paper Series 10454, CESifo.
  19. Takashi Hayashi & Michele Lombardi, 2019. "Fair social decision under uncertainty and belief disagreements," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 775-816, June.
  20. Valerio Dotti & Eckhard Janeba, 2020. "Consistent Flexibility: Enforcement of Fiscal Rules through Political Incentives," CESifo Working Paper Series 8440, CESifo.
  21. Miyagishima, Kaname, 2023. "Time-consistent fair social choice," Theoretical Economics, Econometric Society, vol. 18(3), July.
  22. Gersbach, Hans & Jackson, Matthew O. & Muller, Philippe & Tejada, Oriol, 2023. "Electoral competition with costly policy changes: A dynamic perspective," Journal of Economic Theory, Elsevier, vol. 214(C).
  23. Ngo Long & Vincent Martinet, 2018. "Combining rights and welfarism: a new approach to intertemporal evaluation of social alternatives," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 50(1), pages 35-64, January.
  24. Anderberg, Dan & Rainer, Helmut & Roeder, Kerstin, 2018. "Family-specific investments and divorce with dynamically inconsistent households: Marital contracts and policy," Journal of Economic Behavior & Organization, Elsevier, vol. 148(C), pages 199-225.
  25. Reiter, Michael & Zessner-Spitzenberg, Leopold, 2023. "Long-term bank lending and the transfer of aggregate risk," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
  26. Dotti, Valerio & Janeba, Eckhard, 2023. "Consistent flexibility: Enforcement of deficit rules through political incentives," European Journal of Political Economy, Elsevier, vol. 79(C).
  27. Ling PENG & William W. HAGER, 2017. "Non-constant Quasi-hyperbolic Discounting," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(2), pages 145-164.
  28. Feng, Tangren & Ke, Shaowei & McMillan, Andrew, 2022. "Utilitarianism and social discounting with countably many generations," Journal of Mathematical Economics, Elsevier, vol. 98(C).
  29. Vincent Martinet & Pedro Gajardo & Michel De Lara & Héctor Ramírez Cabrera, 2011. "Bargaining with intertemporal maximin payoffs," EconomiX Working Papers 2011-7, University of Paris Nanterre, EconomiX.
  30. Laurent Denant-Boemont & Enrico Diecidue & Olivier l’Haridon, 2017. "Patience and time consistency in collective decisions," Experimental Economics, Springer;Economic Science Association, vol. 20(1), pages 181-208, March.
  31. Takashi Hayashi & Noriaki Kiguchi & Norio Takeoka, 2024. "Temptation and self‐control for the impure benevolent planner: The case of heterogeneous discounting," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 26(1), February.
  32. Andrew Hertzberg, 2024. "Time‐Consistent Individuals, Time‐Inconsistent Households," Journal of Finance, American Finance Association, vol. 79(6), pages 3821-3857, December.
  33. Graeme Guthrie, 2021. "Discounting, Disagreement, and the Option to Delay," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 80(1), pages 95-133, September.
  34. Millner, Antony & Heal, Geoffrey, 2018. "Time consistency and time invariance in collective intertemporal choice," Journal of Economic Theory, Elsevier, vol. 176(C), pages 158-169.
  35. Josa-Fombellida, Ricardo & Navas, Jorge, 2020. "Time consistent pension funding in a defined benefit pension plan with non-constant discounting," Insurance: Mathematics and Economics, Elsevier, vol. 94(C), pages 142-153.
  36. Balbus, Łukasz & Reffett, Kevin & Woźny, Łukasz, 2022. "Time-consistent equilibria in dynamic models with recursive payoffs and behavioral discounting," Journal of Economic Theory, Elsevier, vol. 204(C).
  37. Navin Kartik & SangMok Lee & Daniel Rappoport, 2022. "Single-Crossing Differences in Convex Environments," Papers 2212.12009, arXiv.org, revised Jun 2023.
  38. Mononen, Lasse, 2024. "Dynamically Consistent Intergenerational Welfare," Center for Mathematical Economics Working Papers 687, Center for Mathematical Economics, Bielefeld University.
  39. Costello, Christopher & Molina, Renato, 2021. "Transboundary marine protected areas," Resource and Energy Economics, Elsevier, vol. 65(C).
  40. Panizza, Ugo & Fatás, Antonio & Ghosh, Atish R. & ,, 2019. "The Motives to Borrow," CEPR Discussion Papers 13735, C.E.P.R. Discussion Papers.
  41. Bach Dong-Xuan & Philippe Bich, 2024. "Dynamic choices, temporal invariance and variational discounting," Papers 2408.05632, arXiv.org.
  42. Doruk Cetemen & Felix Zhiyu Feng & Can Urgun, 2019. "Contracting with Non-Exponential Discounting: Moral Hazard and Dynamic Inconsistency," Working Papers 2019-17, Princeton University. Economics Department..
  43. Geir B. Asheim & Kuntal Banerjee & Tapan Mitra, 2021. "How stationarity contradicts intergenerational equity," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(2), pages 423-444, September.
  44. Daniel J Benjamin & Jakina Debnam Guzman & Marc Fleurbaey & Ori Heffetz & Miles Kimball, 2023. "What do Happiness Data Mean? Theory and Survey Evidence," Journal of the European Economic Association, European Economic Association, vol. 21(6), pages 2377-2412.
  45. Laura Alfaro, 2016. "Fiscal Rules and Sovereign Default," 2016 Meeting Papers 209, Society for Economic Dynamics.
  46. Ali Lazrak & Hanxiao Wang & Jiongmin Yong, 2023. "Present-biased lobbyists in linear–quadratic stochastic differential games," Finance and Stochastics, Springer, vol. 27(4), pages 947-984, October.
  47. Antony Millner & Geoffrey Heal, 2016. "Collective Intertemporal Choice: the Possibility of Time Consistency," NBER Working Papers 22524, National Bureau of Economic Research, Inc.
  48. Craig S. Webb, 2024. "Dynamic preference foundations of expected exponentially-discounted utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 77(4), pages 921-940, June.
  49. Maria Arvaniti & Chandra K. Krishnamurthy & Anne-Sophie Crépin, 2019. "Time-consistent resource management with regime shifts," CER-ETH Economics working paper series 19/329, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  50. Mackenzie, Andrew & Komornik, Vilmos, 2023. "Fairly taking turns," Games and Economic Behavior, Elsevier, vol. 142(C), pages 743-764.
  51. Aviad Heifetz & Enrico Minelli & Herakles Polemarchakis, 2021. "Liberal parentalism," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 23(6), pages 1107-1129, December.
  52. Christopher P. Chambers & Federico Echenique & Alan D. Miller, 2023. "Decreasing Impatience," American Economic Journal: Microeconomics, American Economic Association, vol. 15(3), pages 527-551, August.
  53. Pivato, Marcus & Fleurbaey, Marc, 2024. "Intergenerational equity and infinite-population ethics: A survey," Journal of Mathematical Economics, Elsevier, vol. 113(C).
  54. Balbus, Łukasz & Reffett, Kevin & Woźny, Łukasz, 2018. "On uniqueness of time-consistent Markov policies for quasi-hyperbolic consumers under uncertainty," Journal of Economic Theory, Elsevier, vol. 176(C), pages 293-310.
  55. Mark Schneider, 2016. "Dual Process Utility Theory: A Model of Decisions Under Risk and Over Time," Working Papers 16-23, Chapman University, Economic Science Institute.
  56. Chandrasekher, Madhav, 2015. "Dynamically consistent voting rules," Journal of Economic Theory, Elsevier, vol. 160(C), pages 175-187.
  57. Millner, Antony & Heal, Geoffrey, 2018. "Discounting by committee," Journal of Public Economics, Elsevier, vol. 167(C), pages 91-104.
  58. Pietro Reichlin, 2020. "Social welfare, parental altruism, and inequality," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(5), pages 1391-1419, September.
  59. Blavatskyy, Pavlo R., 2017. "Probabilistic intertemporal choice," Journal of Mathematical Economics, Elsevier, vol. 73(C), pages 142-148.
  60. Michael A. Kuhn, 2021. "Electronic Benefit Transfer and Food Expenditure Cycles," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 40(3), pages 744-773, June.
  61. Anchugina, Nina & Ryan, Matthew & Slinko, Arkadii, 2017. "Hyperbolic discounting of the far-distant future," Economics Letters, Elsevier, vol. 155(C), pages 140-143.
  62. Dan Anderberg & Helmut Rainer & Kerstin Roeder, 2016. "Family-Specific Investments and Divorce: A Theory of Dynamically Inconsistent Household Behavior," CESifo Working Paper Series 5996, CESifo.
  63. Alt, Marius, 2024. "Better us later than me now —," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 108(C).
  64. Rudy Henkel, 2021. "Multiself Bargaining," Studies in Microeconomics, , vol. 9(1), pages 28-65, June.
  65. Cetemen, Doruk & Feng, Felix Zhiyu & Urgun, Can, 2023. "Renegotiation and dynamic inconsistency: Contracting with non-exponential discounting," Journal of Economic Theory, Elsevier, vol. 208(C).
  66. Xiangyu Qu & Bach Dong Xuan, 2024. "Unilateral Dominance and Social Discounting," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04487520, HAL.
  67. Galperti, Simone, 2019. "A theory of personal budgeting," Theoretical Economics, Econometric Society, vol. 14(1), January.
  68. Garlappi, Lorenzo & Giammarino, Ron & Lazrak, Ali, 2017. "Ambiguity and the corporation: Group disagreement and underinvestment," Journal of Financial Economics, Elsevier, vol. 125(3), pages 417-433.
  69. Shuoqing Deng & Xiang Yu & Jiacheng Zhang, 2023. "On time-consistent equilibrium stopping under aggregation of diverse discount rates," Papers 2302.07470, arXiv.org, revised Dec 2023.
  70. Alt, Marius, 2021. "Committing to behave pro-environmentally: An assessment of time and regulatee-size effects on the demand for environmental regulation," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242419, Verein für Socialpolitik / German Economic Association.
  71. Guilherme Lichand & Juliette Thibaud, 2020. "Parent-bias," ECON - Working Papers 369, Department of Economics - University of Zurich, revised Jun 2022.
  72. Ebert, Sebastian & Wei, Wei & Zhou, Xun Yu, 2020. "Weighted discounting—On group diversity, time-inconsistency, and consequences for investment," Journal of Economic Theory, Elsevier, vol. 189(C).
  73. Mark Schneider, 2018. "A Dual System Model of Risk and Time Preferences," Working Papers 18-18, Chapman University, Economic Science Institute.
  74. Xiaosheng Mu & Luciano Pomatto & Philipp Strack & Omer Tamuz, 2024. "Monotone Additive Statistics," Econometrica, Econometric Society, vol. 92(4), pages 995-1031, July.
  75. Lemoine, Derek, 2018. "Age-induced acceleration of time: Implications for intertemporal choice," Journal of Economic Behavior & Organization, Elsevier, vol. 153(C), pages 143-152.
  76. Takashi Hayashi & Michele Lombardi, 2021. "Social discount rate: spaces for agreement," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(2), pages 247-257, October.
  77. Anchugina, Nina & Ryan, Matthew & Slinko, Arkadii, 2019. "Mixing discount functions: Implications for collective time preferences," Mathematical Social Sciences, Elsevier, vol. 102(C), pages 1-14.
  78. Marina Agranov & Jeongbin Kim & Leeat Yariv, 2023. "Coordination with Differential Time Preferences: Experimental Evidence," Working Papers 2023-10, Princeton University. Economics Department..
  79. Nina Anchugina & Matthew Ryan & Arkadii Slinko, 2017. "Hyperbolic Discounting of the Far-Distant Future," Papers 1702.01362, arXiv.org.
  80. Dong-Xuan, Bach & Qu, Xiangyu, 2024. "Restricted Dominant Unanimity and Social Discounting," Center for Mathematical Economics Working Papers 697, Center for Mathematical Economics, Bielefeld University.
  81. Ali Lazrak & Hanxiao Wang & Jiongmin Yong, 2023. "Present-Biased Lobbyists in Linear Quadratic Stochastic Differential Games," Papers 2304.11577, arXiv.org, revised Sep 2023.
  82. Millner, Antony & Healey, Andrew, 2018. "Discounting by committee," LSE Research Online Documents on Economics 90246, London School of Economics and Political Science, LSE Library.
  83. Murat Yilmaz, 2018. "An Extended Survey of Time-Inconsistency and Its Applications," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 32(1), pages 55-73.
  84. Mikhail Pakhnin, 2021. "Collective Choice with Heterogeneous Time Preferences," CESifo Working Paper Series 9141, CESifo.
  85. Hisaki Kono & Tomomi Tanaka, 2019. "Does marriage work as a savings commitment device? Experimental evidence from Vietnam," PLOS ONE, Public Library of Science, vol. 14(6), pages 1-18, June.
  86. Luis A. Alcala, 2016. "On the time consistency of collective preferences," Papers 1607.02688, arXiv.org, revised Jul 2018.
  87. Gersbach, Hans & Jackson, Matthew O. & Tejada, Oriol, 2020. "The Optimal Length of Political Terms," CEPR Discussion Papers 14857, C.E.P.R. Discussion Papers.
  88. Antony Millner, 2016. "Heterogeneous intergenerational altruism," GRI Working Papers 226, Grantham Research Institute on Climate Change and the Environment.
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