Time consistency of optimal plans: an elementary primer
AbstractTime consistent optimal plans are defined within the context of a simple, discrete time optimal control framework. Three possible sources of inconsistency are identified and discussed with reference to the literature.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 91.
Date of creation: 1984
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-03-14 (All new papers)
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98, Federal Reserve Bank of Minneapolis.
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