EconPapers    
Economics at your fingertips  
 

On impatience, temptation and Ramsey’s conjecture

Jean-Pierre Drugeon and Bertrand Wigniolle

Economic Theory, 2017, vol. 63, issue 1, No 3, 73-98

Abstract: Abstract This article explores the implications of the introduction of self-control costs and temptation motives in intertemporal preferences in an elementary competitive equilibrium. We let heterogeneous agents differ in both their discount parameters and their temptation motives, and the degree of financial-market imperfections vary, and establish their implications for the long-run value of the capital stock and the underlying long-run distribution of consumption and wealth. The results differ from those obtained in a standard Ramsey benchmark model, in that long-run distributions are commonly non-degenerate.

Keywords: Impatience; Temptation; Self-Control; Ramsey’s Conjecture (search for similar items in EconPapers)
JEL-codes: E32 O41 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s00199-015-0933-4 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
Working Paper: On impatience, temptation and Ramsey’s conjecture (2017)
Working Paper: On impatience, temptation and Ramsey’s conjecture (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:63:y:2017:i:1:d:10.1007_s00199-015-0933-4

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

DOI: 10.1007/s00199-015-0933-4

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2020-11-08
Handle: RePEc:spr:joecth:v:63:y:2017:i:1:d:10.1007_s00199-015-0933-4