TITLE:
Weak and Strong Time Consistency
AUTHORS:
Romar Correa
KEYWORDS:
Information Sets; Discretion
JOURNAL NAME:
Theoretical Economics Letters,
Vol.2 No.1,
February
23,
2012
ABSTRACT: We motivate and provide proofs of Ba?ar and Olsder’s (1995) theorems on the subject. The context is the increasing appreciation that the neoclassical framework is not the only model of the economy.