Optimal consumption with time-inconsistent preferences

DOI10.1007/S00199-019-01228-1MaRDI QIDQ2206007zbMATH OpenOpenAlexWikidataFDO

Authors Liya Liu, Yingjie Niu, Yuanping Wang, Jinqiang Yang

Publication date 21 October 2020

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-019-01228-1

zbMATH Keywords

time-inconsistent preferencesmarginal propensity to consumeexcess sensitivityexcess smoothness

Mathematics Subject Classification ID

Individual preferences (91B08) Consumer behavior, demand theory (91B42)

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Cites work

• Choice and procrastination
• Consumption and portfolio rules for time-inconsistent investors
• Consumption habits and humps
• Consumption-Savings Decisions with Quasi-Geometric Discounting
• Correlated income shocks and excess smoothness of consumption
• Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data
• Dynamic Choices of Hyperbolic Consumers
• Forecasting and conditional projection using realistic prior distributions
• Golden Eggs and Hyperbolic Discounting
• Instantaneous Gratification *
• Labor income, borrowing constraints, and equilibrium asset prices
• Non-existence of competitive equilibria with dynamically inconsistent preferences
• Optimal consumption and savings with stochastic income and recursive utility
• Ramsey Meets Laibson in the Neoclassical Growth Model
• Saving and dissaving with hyperbolic discounting
• The Excess Smoothness of Consumption: Identification and Interpretation
• Time-inconsistent preferences in a general equilibrium model

Cited in

(16)

• Excessive consumption and present bias
• How the future shapes consumption with time-inconsistent preferences
• Present-biased government and sovereign debt dynamics
• Quasi-hyperbolic discounting under recursive utility and consumption-investment decisions
• Nonexpected utility preferences in a temporal framework with an application to consumption-savings behaviour
• Time-additive representations of preferences when consumption grows without bound
• scientific article; zbMATH DE number 1918764 (Why is no real title available?)
• Time inconsistency and the long-run effects of inflation
• Optimal consumption dynamics with non-concave habit-forming utility
• Consumption externalities with endogenous time preference
• Capital accumulation game with quasi-geometric discounting and consumption externalities
• Why mandate young borrowers to contribute to their retirement accounts?
• Optimal consumption choice with intertemporal substitution
• Present-biased preferences and the effect of illiquid assets
• Tempting goods, self-control fatigue, and time preference in consumer dynamics
• Time-inconsistent preferences, investment and asset pricing

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