Process Fairness and Dynamic Consistency

ST Trautmann; Peter Wakker

doi:10.1016/j.econlet.2010.08.031

Process Fairness and Dynamic Consistency

ST Trautmann, Peter Wakker

Research output: Contribution to journal › Article › Academic › peer-review

16 Citations (Scopus)

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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 language	English
Pages (from-to)	187-189
Number of pages	3
Journal	Economics Letters
Volume	109
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2010.08.031
Publication status	Published - 2010

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title = "Process Fairness and Dynamic Consistency",

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.",

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language = "English",

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AU - Trautmann, ST

AU - Wakker, Peter

PY - 2010

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N2 - 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.

AB - 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.

U2 - 10.1016/j.econlet.2010.08.031

DO - 10.1016/j.econlet.2010.08.031

M3 - Article

SN - 0165-1765

VL - 109

SP - 187

EP - 189

JO - Economics Letters

JF - Economics Letters

IS - 3

ER -

Process Fairness and Dynamic Consistency

Abstract

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