Date of Original Version

3-2002

Type

Article

Abstract or Description

In a near-canonical forward looking model, the ‘timeless perspective’ form of commitment typically provides outcomes that are on average superior to those resulting from discretion. The specific condition that appears in the literature is, however, not optimal from the relevant perspective.

DOI

10.1016/S0165-1765(02)00096-4

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Published In

Economics Letters , 77, 2, 163-168.