Time-consistent policies

被引：24
|
作者：
Karp, L
Lee, IH
机构：
[1] Univ Calif Berkeley, Dept Agr & Resource Econ, Berkeley, CA 94720 USA
[2] Seoul Natl Univ, Sch Econ, Seoul, South Korea
[3] Univ Southampton, Dept Econ, Southampton SO9 5NH, Hants, England
来源：
JOURNAL OF ECONOMIC THEORY | 2003年 / 112卷 / 02期
关键词：
time inconsistency; open-loop policies; stationarity;
D O I：
10.1016/S0022-0531(03)00067-X
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In many cases the optimal open-loop policy to influence agents who solve dynamic problems is time inconsistent. We show how to construct a time-consistent open-loop policy rule. We also consider an additional restriction under which the time-consistent open-loop policy is stationary. We use examples to illustrate the properties of these tax rules. (C) 2003 Elsevier Science (USA). All rights reserved.
引用
收藏
页码：353 / 364
页数：12
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