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Does Time Inconsistency Matter?

1988
The paper addresses the Kydland and Prescott (1977) argument that the optimal policy in models with rational expectations is time-inconsistent. This, it is argued, undermines the credibility of the optimal policy in the eyes of the private sector, who will expect the policy-maker to reoptimize.
openaire   +1 more source

When Fair Isn't Fair: Sophisticated Time Inconsistency in Social Preferences

, 2016
J. Andreoni   +4 more
semanticscholar   +1 more source

Partially Observed Time-Inconsistency Recursive Optimization Problem and Application

Journal of Optimization Theory and Applications, 2013
Haiyang Wang, Zhen Wu
semanticscholar   +1 more source

Does the ECB Have a Time-Inconsistency Problem? A Note

, 2011
Christian Pierdzioch, G. Stadtmann
semanticscholar   +1 more source

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