On impatience, temptation and Ramsey’s conjecture
Jean-Pierre Drugeon
(1, 2)
,
Bertrand Wigniolle
(2, 1, 3)
Jean-Pierre Drugeon
- Fonction : Auteur
- PersonId : 1359205
- IdHAL : jean-pierre-drugeon
Bertrand Wigniolle
- Fonction : Auteur
- PersonId : 921358
- IdHAL : bertrand-wigniolle
- ORCID : 0000-0001-9100-8208
Résumé
This article explores the implications of the introduction of self-control costs and temptation motives in intertemporal preferences in an elementary competitive equilibrium. We let heterogeneous agents differ in both their discount parameters and their temptation motives, and the degree of financial-market imperfections vary, and establish their implications for the long-run value of the capital stock and the underlying long-run distribution of consumption and wealth. The results differ from those obtained in a standard Ramsey benchmark model, in that long-run distributions are commonly non-degenerate.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Résumé |
en
This article explores the implications of the introduction of self-control costs and temptation motives in intertemporal preferences in an elementary competitive equilibrium. We let heterogeneous agents differ in both their discount parameters and their temptation motives, and the degree of financial-market imperfections vary, and establish their implications for the long-run value of the capital stock and the underlying long-run distribution of consumption and wealth. The results differ from those obtained in a standard Ramsey benchmark model, in that long-run distributions are commonly non-degenerate.
|
Titre |
en
On impatience, temptation and Ramsey’s conjecture
|
Auteur(s) |
Jean-Pierre Drugeon
1, 2
, Bertrand Wigniolle
2, 1, 3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
3
UP1 -
Université Paris 1 Panthéon-Sorbonne
( 7550 )
- 12 place du Panthéon, 75231 Paris Cedex 05
- France
|
Date de publication électronique |
2015-11-15
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2017-01
|
URL éditeur |
https://link.springer.com/article/10.1007%2Fs00199-015-0933-4
|
Volume |
63
|
Numéro |
1
|
Page/Identifiant |
73-98
|
Mots-clés (JEL) |
|
Domaine(s) |
|
Projet(s) ANR |
|
Financement |
|
Mots-clés |
en
Ramsey’s Conjecture, Impatience, Temptation, Self-Control
|
DOI | 10.1007/s00199-015-0933-4 |
Loading...