Valuating payoff streams under unequal discount factors

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.

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Year of publication:	2008
Authors:	Salonen, Hannu ; Vartiainen, Hannu
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 3, p. 595-598
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005355572