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

基金：

英国经济与社会研究理事会;

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

页码：353 / 364

页数：12

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