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On the design of an optimal transfer schedule with time inconsistent preferences

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Author Info
Juan Carlos Chavez-Martin del Campo () (Universidad de Guanajuato and Centro de Estudios de las Finanzas Publicas)

Additional information is available for the following registered author(s):

Abstract

This paper incorporates the phenomenon of time inconsistency into the problem of designing an optimal transfer schedule under income shocks and asymmetric information. The optimal solution reflects the dilemma that a principal has to face when playing the roles of self-control enforcer and consumption smoother simultaneously.

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File URL: http://economicsbulletin.vanderbilt.edu/2008/volume8/EB-08H00003A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 8 (2008)
Issue (Month): 5 ()
Pages: 1-7
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ebl:ecbull:v:8:y:2008:i:5:p:1-7

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Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
Phone: 615-322-2920
Fax: 615-343-8495
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Web page: http://www.economicsbulletin.com

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Related research
Keywords: Time Inconsistency; Transfer Schedule; Hyperbolic Discounting; Self-Control Problems; Income Shocks;

Find related papers by JEL classification:
H0 - Public Economics - - General
D9 - Microeconomics - - Intertemporal Choice and Growth

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Dagobert L. Brito & Jonathan H. Hamilton & Steven M. Slutsky & Joseph E. Stiglitz, 1991. "Dynamic Optimal Income Taxation with Government Commitment," NBER Working Papers 3265, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Melvin Stephens Jr., 2002. "Paycheck Receipt and the Timing of Consumption," NBER Working Papers 9356, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Ravi Kanbur & Jukka Pirttilä & Matti Tuomala, 2006. "Non-Welfarist Optimal Taxation And Behavioural Public Economics," Journal of Economic Surveys, Blackwell Publishing, vol. 20(5), pages 849-868, December. [Downloadable!] (restricted)
    Other versions:
  4. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
  5. Ted O' Donoghue & Matthew Rabin, 2001. "Choice and Procrastination," Microeconomics 0012002, EconWPA. [Downloadable!]
  6. Goldman, Steven M, 1980. "Consistent Plans," Review of Economic Studies, Blackwell Publishing, vol. 47(3), pages 533-37, April. [Downloadable!] (restricted)
  7. Nava Ashraf & Dean Karlan & Wesley Yin, 2006. "Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines," The Quarterly Journal of Economics, MIT Press, vol. 121(2), pages 635-672, May. [Downloadable!] (restricted)
    Other versions:
  8. Peleg, Bezalel & Yaari, Menahem E, 1973. "On the Existence of a Consistent Course of Action when Tastes are Changing," Review of Economic Studies, Blackwell Publishing, vol. 40(3), pages 391-401, July. [Downloadable!] (restricted)
  9. Ted O'Donoghue & Matthew Rabin, 2001. "Choice And Procrastination," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 121-160, February. [Downloadable!] (restricted)
  10. Shapiro, Jesse M., 2005. "Is there a daily discount rate? Evidence from the food stamp nutrition cycle," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 303-325, February. [Downloadable!] (restricted)
    Other versions:
  11. Shavell, Steven & Weiss, Laurence, 1979. "The Optimal Payment of Unemployment Insurance Benefits over Time," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1347-62, December. [Downloadable!] (restricted)
    Other versions:
  12. Hopenhayn, Hugo A & Nicolini, Juan Pablo, 1997. "Optimal Unemployment Insurance," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 412-38, April.
    Other versions:
  13. George-Marios Angeletos et al., 2001. "The Hyberbolic Consumption Model: Calibration, Simulation, and Empirical Evaluation," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 47-68, Summer. [Downloadable!] (restricted)
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This page was last updated on 2009-11-16.

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