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Efficiency and Equilibrium when Preferences are Time-Inconsistent

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Author Info
Luttmer, Erzo
Mariotti, Thomas
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File URL: http://idei.fr/doc/wp/2004/efficiency.pdf
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Paper provided by Institut d'Économie Industrielle (IDEI), Toulouse in its series IDEI Working Papers with number 335.

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Date of creation: 2004
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Publication status: Published in Journal of Economic Theory, vol. 132, n°1, janvier 2007, p. 493-506.
Handle: RePEc:ide:wpaper:3415

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Find related papers by JEL classification:
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
D60 - Microeconomics - - Welfare Economics - - - General
D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving

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  1. Erzo G. J. Luttmer & Thomas Mariotti, 2003. "Subjective Discounting in an Exchange Economy," Journal of Political Economy, University of Chicago Press, vol. 111(5), pages 959-989, October. [Downloadable!] (restricted)
  2. Krusell, Per & Kuruscu, Burhanettin & Smith Jr., Anthony A, 2001. "Equilibrium Welfare and Government Policy with Quasi-Geometric Discounting," CEPR Discussion Papers 2693, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  3. Christopher Harris & David Laibson, 1999. "Dynamic Choices of Hyperbolic Consumers," Harvard Institute of Economic Research Working Papers 1886, Harvard - Institute of Economic Research.
    Other versions:
  4. Erzo G J Luttmer & Thomas Mariotti, 2003. "Efficiency and Equilibrium when Preferences are Time-Inconsistent," STICERD - Theoretical Economics Paper Series 446, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE. [Downloadable!]
  5. Laibson, David, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 443-77, May.
  6. 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)
  7. Stiglitz, Joseph E, 1982. "The Inefficiency of the Stock Market Equilibrium," Review of Economic Studies, Blackwell Publishing, vol. 49(2), pages 241-61, April. [Downloadable!] (restricted)
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