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Individual and Collective Time Consistency

Author

Listed:
  • Asheim, G.B.

Abstract

This paper reconsiders the Strotz-Pollak problem of consistent planning and argues that a solution to this problem requires a refinement of subgame-perfectness. Such refinement is offred through an analysis based on Greenberg's "theory of social situations". A unifying framework is presented whereby consistent one-person planning as a problem of individual time-consistency and renegotiation-proofness as a problem of colective time-consistency are captured through the same general concept.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Asheim, G.B., 1991. "Individual and Collective Time Consistency," Papers 9169, Tilburg - Center for Economic Research.
    • Handle: RePEc:fth:tilbur:9169
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    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other

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