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Article Dans Une Revue Economic Theory Année : 2024

Prudent aggregation of quasi-hyperbolic experts

Résumé

Imagine a cohort of economic experts appraising long-term projects through the quasi-hyperbolic discounting criterion. The parameters (long-run and short-run discount rates) used by each expert may differ, which implies different policy recommendations. Subsequently, a decision maker is faced with the task of selecting an efficient aggregation from these varied opinions. This paper proposes a solution to reconcile these conflicting recommendations, taking into account the decision maker’s adoption of a “prudent” behavior.
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Dates et versions

halshs-04632144 , version 1 (02-07-2024)

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Bach Dong-Xuan, Philippe Bich, Bertrand Wigniolle. Prudent aggregation of quasi-hyperbolic experts. Economic Theory, In press, ⟨10.1007/s00199-024-01575-8⟩. ⟨halshs-04632144⟩
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