B1 Non-refereed article in a scientific journal

Valuating payoff streams under unequal discount factors



Authors: Hannu Salonen, Hannu Vartiainen

Publisher: ELSEVIER SCIENCE SA

Publication year: 2008

Journal: Economics Letters

Journal name in source: ECONOMICS LETTERS

Journal acronym: ECON LETT

Volume: 99

Issue: 3

First page : 595

Last page: 598

Number of pages: 4

ISSN: 0165-1765

DOI: https://doi.org/10.1016/j.econlet.2007.10.007(external)


Abstract

We study repeated prize allocation when the discount factors of the agents are unequal. The feasible set of payoffs behaves badly: the Pareto frontier is everywhere discontinuous and there is an open subset of (high) discount factors under which the feasible set is totally disconnected. (c) 2008 Published by Elsevier B. V.



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