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A Comment on Galperti and Strulovici (2017)

Author

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  • Asen Ivanov

    (Queen Mary University of London)

Abstract

The analysis in Galperti and Strulovici (2017) relies on two axioms that appear normatively and descriptively very appealing. Notably, these two axioms, taken together with some standard axioms, imply a failure of dynamic consistency. The current comment argues that the two axioms are less normatively and descriptively appealing than they seem. Thus, the challenge to dynamic consistency posed by Galperti and Strulovici is less convincing than it first appears

Suggested Citation

  • Asen Ivanov, 2021. "A Comment on Galperti and Strulovici (2017)," Working Papers 920, Queen Mary University of London, School of Economics and Finance.
    • Handle: RePEc:qmw:qmwecw:920
    as

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    File URL: https://www.qmul.ac.uk/sef/media/econ/research/workingpapers/2021/wp920.pdf
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    References listed on IDEAS

    as
    1. Loewenstein, George, 1987. "Anticipation and the Valuation of Delayed Consumption," Economic Journal, Royal Economic Society, vol. 97(387), pages 666-684, September.
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    More about this item

    Keywords

    intergenerational choice; intertemporal choice; dynamic consistency;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers

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