This paper proposes a method and a toolkit for solving optimal policy with imperfect commitment in linear quadratic … monetary policy. We apply our method to the Smets and Wouters (2007) model, where we show that imperfect commitment has …

consumers from self-control and extracts consumers' commitment surplus. When some consumers are tempted by cheaper, lower …

We use experimental methods to investigate whether pledges of commitment can improve cooperation in endogenously formed … findings show that pledges of commitment increase cooperation in committed partnerships when costs to dissolve them are shared … break up, pledges of commitment fail to improve cooperation and instead decrease cooperation. …

We use experimental methods to investigate whether pledges of commitment can improve cooperation in endogenously formed … findings show that pledges of commitment alone can increase cooperation and welfare in committed partnerships. The introduction … partnerships fall solely on the individual choosing to break up, pledges of commitment fail to improve cooperation and welfare. …

, yet similar in the sense that both allow certain kinds of commitment. We show that when the two models are set up in …

analyzed along three dimensions: (1) the degree of commitment or durability of laws and rules, (2) the degree of enforcement of …

optimal contracts with and without commitment and derive an exclusion restriction that is useful to identify the relevant … commitment scenario. The empirical analysis takes advantage of a data set from Spanish soccer player contracts. Our test rejects … the commitment hypothesis, which entails the acceptance of the existence of contractual incompleteness in the data. We …

is driven by exogenous technology shocks. We first consider the commitment case, and characterize the Ramsey equilibrium … positively correlated with production. Then, we relax the commitment assumption, and we show how to determine numerically whether …, Commitment, Time-consistency, Ramsey equilibrium, Markov perfect equilibria, Sustainable equilibria. …