On the Existence of Markov-Consistent Plans under Production Uncertainty

DOI10.2307/2297724MaRDI QIDQ3747181zbMATH OpenOpenAlexFDO

Authors B. Douglas Bernheim, Debraj Ray

Publication date 1986

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://semanticscholar.org/paper/535b9142465d8c63a16342cddb5d599b54a2507d

zbMATH Keywords

change over timeconsistent planfinite horizon problemsMarkov- consistent plansmooth uncertaintytime-dependent preferences

Mathematics Subject Classification ID

Group preferences (91B10)

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Cited in

(9)

• Nonpaternalistic intergenerational altruism
• On uniqueness of time-consistent Markov policies for quasi-hyperbolic consumers under uncertainty
• Time consistent Markov policies in dynamic economies with quasi-hyperbolic consumers
• Existence of stationary Markov perfect equilibria in stochastic altruistic growth economies
• Nonexistence of constrained efficient production plans
• Ruling out multiplicity of smooth equilibria in dynamic games: a hyperbolic discounting example
• Individual and Collective Time-Consistency
• Markov perfect equilibria in altruistic growth economies with production uncertainty
• The recursive approach to time inconsistency

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