Optimal Time-Inconsistent Beliefs: Misplanning, Procrastination, and Commitment
We develop a structural theory of beliefs and behavior that relaxes the assumption of time consistency in beliefs. Our theory is based on the trade-off between optimism, which raises anticipatory utility, and objectivity, which promotes efficient actions. We present it in the context of allocating w...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Institute for Operations Research and the Management Sciences (INFORMS)
2017
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| Online Access: | http://hdl.handle.net/1721.1/108406 https://orcid.org/0000-0001-5441-6296 |