The intrinsic comparative dynamics of infinite horizon optimal control problems with a time-varying discount rate and time-distance discounting

摘要: Abstract The intrinsic comparative dynamics of a ubiquitous class optimal control problems with time-varying discount rate and time-distance discounting are derived shown to be characterized by positive semidefinite matrix. It is also that the said invariant functional form function type agent. Consequently, if one limits econometric testing basic given problems, cannot determine (i) used an agent, thus agent time-consistent or time-inconsistent decision maker, (ii) commits plan action takes into account changing nature his preferences when choosing plan.