IMASL 20939
INSTITUTO DE MATEMATICA APLICADA DE SAN LUIS "PROF. EZIO MARCHI"
Unidad Ejecutora - UE
artículos
Título:
On the time consistency of collective preferences
Autor/es:
LUIS ALCALA
Revista:
arXiv
Editorial:
Cornell University
Referencias:
Lugar: Ithaca; Año: 2016
Resumen:
A model of collective decisions made by a finite number of agents with constant but heterogeneous discount factors is developed. Collective utility is obtained as the weighted sum of all individual utilities with time-varying weights. It is shown that under standard separability assumptions, collective preferences may be nonstationary but still satisfy time consistency.
