Process Fairness and Dynamic Consistency

ST Trautmann, Peter Wakker

Research output: Contribution to journalArticleAcademicpeer-review

14 Citations (Scopus)
3 Downloads (Pure)

Abstract

Abstract: When process fairness deviates from outcome fairness, dynamic inconsistencies can arise as in nonexpected utility. Resolute choice (Machina) can restore dynamic consistency under nonexpected utility without using Strotz's precommitment. It can similarly justify dynamically consistent process fairness.
Original languageEnglish
Pages (from-to)187-189
Number of pages3
JournalEconomics Letters
Volume109
Issue number3
DOIs
Publication statusPublished - 2010

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