منابع مشابه
Collective Intertemporal Choice: Time Consistency vs. Time Invariance
We study collective choice when individuals have heterogeneous discounted utilitarian preferences. Two attractive properties of intertemporal preferences are indistinguishable for individuals, but have dramatically different implications for collective choice. Time Consistency requires a plan that is optimal at one evaluation date to be optimal at all later evaluation dates, while Time Invarian...
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This paper aims at proving that social interactions can easily be rationalized by individual preferences as de ned in standard microeconomic theory. For that purpose, we show individual choice rationality to be logically equivalent to social consistency, when individual rationality means that individual preferences are completely ordered and social consistency that there is a one-to-one mapping...
متن کاملIndividual Learning and Collective Intelligence∗
In this paper, we explore how incentives and information structures influence emergent collective accuracy. In our model, individuals of bounded ability predict outcomes that depend on the values of a set of attributes. Each individual constructs a predictive model that considers only a subset of those attributes. We compare environments in which individuals learn in isolation to environments w...
متن کاملNegotiating Collective and Individual Agency
The societal changes in India and the available variety of reproductive health services call for evidence to inform health systems how to satisfy young women's reproductive health needs. Inspired by Foucault's power idiom and Bandura's agency framework, we explore young women's opportunities to practice reproductive agency in the context of collective social expectations. We carried out in-dept...
متن کاملTime Discounting and Time Consistency
Time discounting is the phenomenon that a desired result in the future is perceived as less valuable than the same result now. Economic theories can take this psychological fact into account in several ways. In the economic literature the most widely used type of additive time discounting is exponential discounting. In exponential discounting, the fall of valuation depends by a constant factor ...
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ژورنال
عنوان ژورنال: The Review of Economic Studies
سال: 1997
ISSN: 0034-6527
DOI: 10.2307/2971722