Titulo: On the Time Consistency of Collective Preferences
Expositor: Luis Alcalá (IMASL)
Abstract: This paper develops a collective choice model of consumption and savings. Preferences of time consistent agents are aggregated so they satisfy Pareto optimality with time-varying utility weights. Under standard separability assumptions, collective preferences are nonstationary and time dependent, but time consistent in the sense of Halevy (2015).
Reference: Halevy, Yoram (2015) ''Time consistency, Starionarity and Time Invariance,Econometrica, Vol. 83, No. 1, 335–352.