Commitment, flexibility, and optimal screening of time inconsistency

DOI10.3982/ECTA11851MaRDI QIDQ4614294zbMATH OpenFDO

Authors Simone Galperti

Publication date 30 January 2019

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.3982/ECTA11851

zbMATH Keywords

commitmentflexibilityscreeningself-controltime inconsistencyunused options

Mathematics Subject Classification ID

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

Recommendations

• Commitment contracts
• Time-inconsistent preferences and time-inconsistent policies
• Commitment vs. Flexibility
• Who chooses commitment? Evidence and welfare implications
• Commitment through risk

Cited in

(17)

• Timing and time inconsistency in search models
• Life insurance and life settlement markets with overconfident policyholders
• Time-inconsistent preferences and time-inconsistent policies
• Durable goods as commitment devices under quasi-hyperbolic discounting
• Renegotiation and dynamic inconsistency: contracting with non-exponential discounting
• Comment on ``Commitment vs. flexibility
• Commitment contracts
• Who chooses commitment? Evidence and welfare implications
• On the Value of Penalties in Time-Inconsistent Planning
• Commitment vs. Flexibility
• Time-inconsistent contract theory
• Dynamically consistent menu preferences
• Present bias unconstrained: consumption, welfare, and the present-bias dilemma
• Commitment through risk
• Pre-commitment and flexibility in a time decision experiment
• Time consistent commitments of intermediate duration
• Dynamic screening with limited commitment

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