We make three points. First, ex ante e¢ cient contracts often require ex post ine¢ ciency. Second, the time inconsistency problem for the government is more severe than for private agents because …re sale e¤ects give governments stronger incentives to renegotiate contracts than private agents. Third, given that the government cannot commit itself to not bailing out …rms ex post, ex ante regulat...

from the perspective of the public budgeting sector ,time inconsistency, is testable by significant deviation of performance(tafrigh) budget efficiency from the approved. one way to avoid the problem of time inconsistency is to follow, the delegation approach. according to this approach, for any executive monetary or fiscal decision making and planning, an independent monetary or fiscal plannin...

Time inconsistency is prevalent in dynamic choice problems: a plan of actions to be taken the future that optimal for an agent today may not same future. If aware this intrapersonal conflict but unable commit herself following today, rational strategy her reconcile with selves, namely correctly anticipate and then act accordingly. Such named intra-personal equilibrium has been studied since as ...

We compared reading acquisition in English and Italian children up to late primary school analyzing RTs and errors as a function of various psycholinguistic variables and changes due to experience. Our results show that reading becomes progressively more reliant on larger processing units with age, but that this is modulated by consistency of the language. In English, an inconsistent orthograph...

This paper introduces time-tradeoff (TTO) sequences as a new tool to analyze time inconsistency and intertemporal choice. TTO sequences simplify the measurement of discount functions, requiring no assumption about utility. They also simplify the qualitative testing of time inconsistencies, and allow for quantitative measurements thereof. TTO sequences can easily be administered using only penci...