Endogenous Future Preferences and Conservation
A dynamic optimization model is developed in whichuncertainty about future preferences is endogenous,namely depending on the state of the environment atthe time the change in preferences occurs.Endogeneizing preferences not only provides economicintuition to previous results but also implies thatoptimal policies are less conservative. Copyright Kluwer Academic Publishers 2000
Volume (Year): 16 (2000)
Issue (Month): 2 (June)
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