Process fairness and dynamic consistency

S.T. Trautmann, P.P. Wakker

Research output: Contribution to journalArticleScientificpeer-review

11 Citations (Scopus)

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
JournalEconomics Letters
Volume109
Issue number3
Publication statusPublished - 2010

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