Kantian Optimization with Quasi-Hyperbolic Discounting

Добавить в календарь 2022-04-14 18:00:00 2022-08-09 20:24:04 Городской экономический семинар "Kantian Optimization with Quasi-Hyperbolic Discounting” Description Online Department of Economics info@eusp.org Europe/Moscow public
Date:
14.04.2022
Time:
18:00
Hall:
Online
Organizer:
Department of Economics
Speaker:
Mikhail Pakhnin

We consider a neoclassical growth model with quasi-hyperbolic discounting under Kantian optimization: each temporal self acts in a way that they would like every future self to act. We introduce the notion of a Kantian policy as an outcome of Kantian optimization in a given class of policies. We derive and characterize a Kantian policy in the class of policies with a constant saving rate for an economy with log-utility and Cobb–Douglas production technology and an economy with isoelastic utility and linear production technology. In all cases, the Kantian saving rate is higher than the saving rate of sophisticated agents, and a Kantian path Pareto dominates a sophisticated path.

Рабочий язык семинара: русский.

Это заседание пройдет в режиме онлайн.

Для получения ссылки на Webinar-конференцию отправьте запрос на почту spb.economic.seminar@gmail.com с указанием имени и фамилии с рабочего адреса электронной почты.

Фото: Unsplash