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Dynamic inconsistency, cooperation and the benevolent dissembling government

✍ Scribed by Stanley Fischer

Publisher
Elsevier Science
Year
1980
Tongue
English
Weight
844 KB
Volume
2
Category
Article
ISSN
0165-1889

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Dynamic inconsistency reflects a prediction bias where decision makers fail to follow their plans simply because they experience outcomes on which their plan was based. Specifically, after experiencing an anticipated gain in one gamble, decision makers reject a second gamble they had planned to acce