Time-consistent equilibria in dynamic models with recursive payoffs and behavioral discounting

DOI10.1016/J.JET.2022.105493zbMATH Open1498.91255OpenAlexW4281615792MaRDI QIDQ2675397FDOQ2675397

Authors: Łukasz Balbus, Kevin Reffett, Łukasz Woźny 

Publication date: 23 September 2022

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2022.105493

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zbMATH Keywords

approximationhyperbolic discountingquasi-hyperbolic discountingtime consistencyMarkov equilibriumgeneralized Bellman equation

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Economic dynamics (91B55)

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Cited In (4)

• Efficient outcomes in a repeated agency model without discounting
• On the rate of time preference under recursive preferences
• Time consistent Markov policies in dynamic economies with quasi-hyperbolic consumers
• Time-inconsistent contract theory

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