全球智库信息集成服务系统(G2TT): Collective Intertemporal Choice: the Possibility of Time Consistency

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w22524
来源ID	Working Paper 22524
	Collective Intertemporal Choice: the Possibility of Time Consistency
	Antony Millner; Geoffrey Heal
发表日期	2016-08-22
出版年	2016
语种	英语
摘要	Recent work on collective intertemporal choice suggests that non-dictatorial social preferences are generically time inconsistent. We argue that this claim conflates time consistency with two distinct properties of preferences: stationarity and time invariance. While the conjunction of time invariance and stationarity implies time consistency, the converse does not hold. Although social preferences cannot be stationary, they may be time consistent if time invariance is abandoned. If individuals are discounted utilitarians, revealed preference provides no guidance on whether social preferences should be time consistent or time invariant. Nevertheless, we argue that time invariant social preferences are often normatively and descriptively problematic.
主题	Microeconomics ; Welfare and Collective Choice ; Behavioral Economics
URL	https://www.nber.org/papers/w22524
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/580198
推荐引用方式 GB/T 7714	Antony Millner,Geoffrey Heal. Collective Intertemporal Choice: the Possibility of Time Consistency. 2016.