Takayuki Ogawa
Biographic Data
| ID | 5738100 |
|---|---|
| NAME | Takayuki Ogawa |
| GIVEN NAMES | Takayuki |
| FAMILY NAME | Ogawa |
| SIGNATURE | OGAWA T |
| AFFILIATIONS | Osaka University of Economics |
| ORCID | 0000-0002-7424-6885 |
| VERIFIED | No |
| TOTAL WORKS | 1 |
| TOTAL CITATIONS | 0 |
| WORKS AS AUTHOR | 1 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2024 |
| LATEST PUBLICATION YEAR | 2024 |
| H-INDEX | 0 |
Hyperbolic discounting and state‐dependent commitment
In a stochastic economy with uninsurable endowment risk, we establish a condition under which hyperbolic‐discounting consumers commit to a future consumption path using both illiquid assets and borrowing constraints as commitment devices. There is the possibility that a state‐dependent commitment can be adopted as an equilibrium consumption strategy. On a path leading to low future endowment, the current self can commit to its own optimal consump…
No prominent works on this page.
Hyperbolic discounting and state‐dependent commitment
In a stochastic economy with uninsurable endowment risk, we establish a condition under which hyperbolic‐discounting consumers commit to a future consumption path using both illiquid assets and borrowing constraints as commitment devices. There is the possibility that a state‐dependent commitment can be adopted as an equilibrium consumption strategy. On a path leading to low future endowment, the current self can commit to its own optimal consump…
Commit (1 work) · Computer Science (1 work) · Consumption (sociology) (1 work) · Decision-Making and Behavioral Economics (1 work) · Discounting (1 work) · Dynamic inconsistency (1 work) · Economic theories and models (1 work) · Economics (1 work) · Endowment (1 work) · Finance (1 work)