Cooperating with yourself

IF 1 3区 经济学 Q3 ECONOMICS Games and Economic Behavior Pub Date : 2024-11-01 DOI:10.1016/j.geb.2024.10.003
Kirill Borissov , Mikhail Pakhnin , Ronald Wendner
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Abstract

We address time-inconsistent decision making by studying two types of intrapersonal cooperation in the Ramsey model with quasi-hyperbolic discounting. First, we consider temporal selves following the Golden Rule principle (do unto others as you would have them do unto you). Second, we consider temporal selves following Kant's categorical imperative (act as you would want all others to act towards all others). We introduce the corresponding cooperative policies and characterize them for economies with respectively log-utility and Cobb–Douglas technology, and isoelastic utility and linear technology. We compare cooperative behavior with non-cooperative (naive and sophisticated) behavior in terms of saving rates, and show that intrapersonal cooperation improves welfare according to all commonly used welfare criteria.
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与自己合作
我们通过研究具有准双曲贴现的拉姆齐模型中的两种人际合作来解决时间不一致决策问题。首先,我们考虑遵循黄金法则原则(己所不欲,勿施于人)的时间自我。其次,我们考虑遵循康德的绝对命令(己所不欲,勿施于人)的时间自我。我们介绍了相应的合作政策,并分别描述了对数效用和柯布-道格拉斯技术经济以及等弹性效用和线性技术经济的合作政策。我们从储蓄率的角度对合作行为与非合作行为(幼稚行为和复杂行为)进行了比较,结果表明,根据所有常用的福利标准,人际合作都能改善福利。
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来源期刊
CiteScore
1.90
自引率
9.10%
发文量
148
期刊介绍: Games and Economic Behavior facilitates cross-fertilization between theories and applications of game theoretic reasoning. It consistently attracts the best quality and most creative papers in interdisciplinary studies within the social, biological, and mathematical sciences. Most readers recognize it as the leading journal in game theory. Research Areas Include: • Game theory • Economics • Political science • Biology • Computer science • Mathematics • Psychology
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