Time inconsistency/Definition: Difference between revisions
Jump to navigation
Jump to search
imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> The circumstance under which it is against the interest of a player to carry out a threat or promise that was previously made with the intention of i...) |
imported>Nick Gardner No edit summary |
||
| Line 1: | Line 1: | ||
<noinclude>{{Subpages}}</noinclude> | <noinclude>{{Subpages}}</noinclude> | ||
A concept that includes (i) the failure to carry out a previous undertaking (such as an unsuccessful threat or promise that was intended to influence the decisions of others); and, (ii) a change, due solely to the passage of time relative to the time of valuation, to the [[discount rate]] that is used to value a delayed cost or benefit. | |||
Latest revision as of 03:27, 16 June 2010
This article contains just a definition and optionally other subpages (such as a list of related articles), but no metadata. Create the metadata page if you want to expand this into a full article.
Time inconsistency [r]: A concept that includes (i) the failure to carry out a previous undertaking (such as an unsuccessful threat or promise that was intended to influence the decisions of others); and, (ii) a change, due solely to the passage of time relative to the time of valuation, to the discount rate that is used to value a delayed cost or benefit.