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• W2464498511 abstract "A dynamic model of collective consumption and saving decisions made by a finite number of agents with constant but different discount rates is developed. Collective utility is a weighted sum of individual utilities with time-varying utility weights. Under standard separability assumptions, it is shown that collective preferences may be nonstationary but still satisfy time consistency. The assumption of time-varying weights is key to balance the need of the group for a changing distribution of consumption among its members over time with their tolerance for consumption fluctuations." @default.
• W2464498511 created "2016-07-22" @default.
• W2464498511 creator A5059416477 @default.
• W2464498511 date "2016-07-10" @default.
• W2464498511 modified "2023-09-26" @default.
• W2464498511 title "On the time consistency of collective preferences" @default.
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• W2464498511 hasPublicationYear "2016" @default.
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