Optimal government policy : a refutation of claims that optimal policy may be time inconsistent

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dc.contributor.advisorWhittaker, Johnen_ZA
dc.contributor.authorWalker, Paulen_ZA
dc.date.accessioned2016-03-30T07:09:52Z
dc.date.available2016-03-30T07:09:52Z
dc.date.issued1991en_ZA
dc.description.abstractSpecifically, we are interested in the question of whether or not the supposed superiority of 'time inconsistent' policies vis-a-vis 'consistent' ones is correct. Given that the notion of 'inconsistency' forms the basis for the recent arguments in favour of 'rules' and against the use of control techniques, this question is of obvious importance. Briefly, the structure of the thesis is as follows. The first chapter concentrates on specifying the general nature of the problems tackled in the 'time inconsistency' literature, and forms the framework for the analysis which follows. Seminal papers on the issue of the 'inconsistency' of optimal plans and the inferiority of 'consistent' solutions are then examined in chapters two and three. A synthesis of the literature is reviewed in chapter four. Chapter five stands by itself as an illustration of the logical difficulties underlying claims that 'optimal' policies are in general 'time inconsistent'. The conclusion is in chapter six. Bibliography: pages 49-51.en_ZA
dc.identifier.apacitationWalker, P. (1991). <i>Optimal government policy : a refutation of claims that optimal policy may be time inconsistent</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/18372en_ZA
dc.identifier.chicagocitationWalker, Paul. <i>"Optimal government policy : a refutation of claims that optimal policy may be time inconsistent."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 1991. http://hdl.handle.net/11427/18372en_ZA
dc.identifier.citationWalker, P. 1991. Optimal government policy : a refutation of claims that optimal policy may be time inconsistent. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Walker, Paul AB - Specifically, we are interested in the question of whether or not the supposed superiority of 'time inconsistent' policies vis-a-vis 'consistent' ones is correct. Given that the notion of 'inconsistency' forms the basis for the recent arguments in favour of 'rules' and against the use of control techniques, this question is of obvious importance. Briefly, the structure of the thesis is as follows. The first chapter concentrates on specifying the general nature of the problems tackled in the 'time inconsistency' literature, and forms the framework for the analysis which follows. Seminal papers on the issue of the 'inconsistency' of optimal plans and the inferiority of 'consistent' solutions are then examined in chapters two and three. A synthesis of the literature is reviewed in chapter four. Chapter five stands by itself as an illustration of the logical difficulties underlying claims that 'optimal' policies are in general 'time inconsistent'. The conclusion is in chapter six. Bibliography: pages 49-51. DA - 1991 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 1991 T1 - Optimal government policy : a refutation of claims that optimal policy may be time inconsistent TI - Optimal government policy : a refutation of claims that optimal policy may be time inconsistent UR - http://hdl.handle.net/11427/18372 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/18372
dc.identifier.vancouvercitationWalker P. Optimal government policy : a refutation of claims that optimal policy may be time inconsistent. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 1991 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/18372en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentSchool of Economicsen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherEconomicsen_ZA
dc.titleOptimal government policy : a refutation of claims that optimal policy may be time inconsistenten_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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