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Process fairness and dynamic consistency

Trautmann,S.T.
; 
Wakker,P.P.
Abstract
When process fairness deviates from outcome fairness, dynamic inconsistencies can arise as in nonexpected utility. Resolute choice (Machina) can restore dynamic consistency under nonexpected utility without using Strotz's precommitment. It can similarly justify dynamically consistent process fairness.
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Date
2010
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Tilburg University Research Output Collection
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Trautmann, S T & Wakker, P P 2010, 'Process fairness and dynamic consistency', Economics Letters, vol. 109, no. 3, pp. 187-189.
URI
https://hdl.handle.net/20.500.14602/54084
License
info:eu-repo/semantics/restrictedAccess
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