The value of opportunities over time when preferences are unstable

The value of opportunities over time when preferences are unstable
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当偏好不稳定时机会的价值随着时间的推移而变化

DOI:
10.1007/s00355-007-0250-3
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发表时间:
2007
影响因子:
0.9
通讯作者:
R. Sugden
R. Sugden
中科院分区:
经济学4区
文献类型:
--
作者:
R. Sugden

文献摘要

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大多数衡量机会的工作都是针对机会集进行排名的。本文讨论了评估多阶段决策问题所提供的机会的更一般的问题,重点讨论了当主体的偏好不稳定时可能发生的动态不一致。提出了一种利用结果间的优势关系迭代地导出多周期问题之间的优势关系的原理。这一原则意味着,制定个别合理行动序列的机会具有积极价值,即使由于动态不一致,这些序列导致了明确的损失。允许代理人约束自己的机会被证明是零价值的。
Most work on measuring opportunity is directed at ranking opportunity sets. This paper addresses the more general issue of assessing the opportunity provided by multi-period decision problems, focusing on the dynamic inconsistencies that can occur if agent’s preferences are unstable. A principle is proposed by which a dominance relation among outcomes iteratively induces a dominance relation among multi-period problems. This principle implies that opportunities to make sequences of individually reasonable actions have positive value, even if, because of dynamic inconsistency, those sequences lead to unambiguous loss. Opportunities which allow an agent to constrain herself are shown to have zero value.