On Time Consistency in Stackelberg Differential Games
This paper explores a class of Stackelberg differential games in which the open-loop strategies of the leader satisfies time consistency. We show that in this class of games the open-loop equilibrium coincides with the corresponding feedback equilibrium. The analytical framework used in this paper involves the models examined by the several recent contributions to the time consistency issue as special cases.
|Date of creation:||Jul 2001|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lansing, Kevin J., 1999.
"Optimal redistributive capital taxation in a neoclassical growth model,"
Journal of Public Economics,
Elsevier, vol. 73(3), pages 423-453, September.
- Kevin J. Lansing, 1998. "Optimal redistributive capital taxation in a neoclassical growth model," Working Papers in Applied Economic Theory 99-01, Federal Reserve Bank of San Francisco.
- Kenneth L. Judd, 1982.
"Redistributive Taxation in a Simple Perfect Foresight Model,"
572, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Judd, Kenneth L., 1985. "Redistributive taxation in a simple perfect foresight model," Journal of Public Economics, Elsevier, vol. 28(1), pages 59-83, October.
- Chamley, Christophe, 1986. "Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives," Econometrica, Econometric Society, vol. 54(3), pages 607-622, May.
- Mino, Kazuo, 2000.
"Optimal Taxation in Dynamic Economies with Increasing Returns,"
17324, University Library of Munich, Germany.
- Mino, Kazuo, 2001. "Optimal taxation in dynamic economies with increasing returns," Japan and the World Economy, Elsevier, vol. 13(3), pages 235-253, August.
- Danyang Xie, 2002.
"On Time Inconsistency: A Technical Issue in Stackelberg Differential Games,"
- Xie, Danyang, 1997. "On Time Inconsistency: A Technical Issue in Stackelberg Differential Games," Journal of Economic Theory, Elsevier, vol. 76(2), pages 412-430, October.
- Kemp, Murray C & Long, Ngo Van & Shimomura, Koji, 1993. "Cyclical and Noncyclical Redistributive Taxation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(2), pages 415-429, May.
- Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, May.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:17028. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.