Dynamic Inconsistency

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August 31, 2024 4 min read Definitions
Dynamic Inconsistency: Understanding the Concept and Its Implications
Economics Game Theory Behavioral Economics Dynamic Inconsistency Time-Inconsistency Optimal Planning Decision Making Behavioral Economics
Dynamic inconsistency is a situation where a decision-maker's optimal plan at one point in time is no longer optimal at a later time. It is crucial in economics, game theory, and behavioral economics, affecting policies and individual decisions alike.
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