Valuating payoff streams under unequal discount factors
Hannu Salonen and
Hannu Vartiainen ()
Economics Letters, 2008, vol. 99, issue 3, 595-598
We study repeated prize allocation when the discount factors of the agents are unequal. The feasible set of payoffs behaves badly: the Pareto frontier is everywhere discontinuous and there is an open subset of (high) discount factors under which the feasible set is totally disconnected.
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Working Paper: Valuating Payoff Streams under Unequal Discount Factors (2007)
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