Using an overlapping generations model, this paper describes interactions between nai͏̈ve and sophisticated hyperbolic discounters in general equilibrium. The nai͏̈fs, who overestimate their future propensity to save and hence over-forecast the future equilibrium asset prices, are exploited...

Using an overlapping generations model, this paper describes interactions between nai͏̈ve and sophisticated hyperbolic discounters in general equilibrium. The nai͏̈fes, who overestimate their future propensity to save and hence over-forecast the future equilibrium asset prices, are exploited...

The relationship between physician and patient has been discussed intensively in the literature. Nevertheless, they neglect the fact that the production of health not only depends on the medical services supplied by the physician but is also influenced by the patient's compliance. We present a...

In our model, an agent produces an outcome by a costly effort and then distributes it among heterogeneous users. The agents̕ payoff is the weighted sum of the users ̕shares and the coefficient reflecting their heterogeneity. When the agent neglects users ̕heterogeneity the game leads to an...