No. 138 - Time Consistency and Subgame Perfection: the Difference between Promises and Threats

by Luigi Guiso and Daniele Terlizzese
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On the basis of the difference between promises and threats, we offer an intuitive explanation of the difference between time consistency and subgame perfection that complements the formal analysis of the two concepts.

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  1. 31 July 1900
    No. 138 - Time Consistency and Subgame Perfection: the Difference between Promises and Threats
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