Results 161 to 170 of about 3,062,998 (197)

Time-consistent redistribution

European Economic Review, 2002
If the government cares more about workers than about capitalists and taxes capital income to finance redistribution to workers, how are inequality and capital accumulation affected in the long run? Assuming that the government cannot commit to future taxes, a time-consistent equilibrium – a differentiable subgame-perfect Markov equilibrium – is ...
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ARE TIME CONSISTENT VALUATIONS INFORMATION MONOTONE?

International Journal of Theoretical and Applied Finance, 2014
Multi-period risk functionals assign a risk value to discrete-time stochastic processes. While convexity and monotonicity extend in straightforward manner from the single-period case, the role of information is more problematic in the multi-period situation.
Kovacevic, R.M., Pflug, G.C.
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Time Preference and Time Consistency:

German Journal of Agricultural Economics, 2001
On the Rationality of Sequential ChoiceThe paper discusses the problem of discounting, time preference, and time consistent decision making. While a constant pure rate of time preference leads to consistent consumption plans, other discounting schemes - like hyperbolic discounting - do not.
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Marking Consistency over Time

Research in Education, 2002
Marking reliability -- an international peer reviewed journal article that investigated whether examiners' marking becomes more severe as they work through their allocated marking. No other empirical study on this topic was identified in the literature.
Pinot de Moira, A, Massey, C, Baird, J-A, Morrissy, M   +3 more
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Time-Consistent and Market-Consistent Actuarial Valuations

SSRN Electronic Journal, 2010
Recent theoretical results establish that time-consistent valuations (i.e.pricing operators) can be created by backward iteration of one-period valuations. In this paper we investigate the continuous-time limits of well-known actuarial premium principles when such backward iteration procedures are applied.
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Time-inconsistency of VaR and time-consistent alternatives

Finance Research Letters, 2007
We show that VaR (Value-at-Risk) is not time-consistent and discuss examples where this can lead to dynamically inconsistent behavior. Then we propose two time-consistent alternatives to VaR. The first one is a composition of one-period VaR's. It is time-consistent but not coherent. The second one is a composition of average VaR's.
Cheridito, P., Stadje, M.A.
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Time Discounting and Time Consistency [PDF]

, 2005
In the economic literature the most widely used type of additive time discounting is Exponential Discounting. Recent work however casts doubts on its ability in explaining how individuals effectively choose. In particular a more general form of discounting that gained importance, in both applied and theoretical work, is Hyperbolic Discounting which ...
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Time-Consistent Criminal Sanctions [PDF]

, 1993
A classic argument in the theory of crime is that optimal enforcement policy should involve maximal sanctions combined with minimal detection costs. Yet this is rarely observed in the real world. We argue that reson for this has to do with the time inconsistency of such a policy.
Robin W. Boadway, Nicolas Marceau
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Time‐Consistent Individuals, Time‐Inconsistent Households

The Journal of Finance
ABSTRACTI present a model of consumption and savings for a multiperson household in which members are imperfectly altruistic, derive utility from both private and shared public goods, and share wealth. I show that, despite having standard exponential time preferences, the household is time‐inconsistent: Members save too little and overspend on private ...
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Time Consistency

2014
Georg Ch. Pflug, Alois Pichler
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