What is Time Consistency? Select one: a. None of the above b. a situation in which an agent, planner or objective maximizer must make a choice about an action or decision in a future plan which is optimal at a later date but is not optimal initially c. Refers to a situation in which a policy results in varying results d. a situation in which an agent, planner or objective maximizer must make a choice about an action or decision in a future plan which is optimal initially but is no longer optimal at a later date

Microeconomic Theory
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ISBN:9781337517942
Author:NICHOLSON
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Chapter7: Uncertainty
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Problem 7.7P
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What is Time Consistency?
Select one:
a.
None of the above
b.
a situation in which an agent, planner or objective maximizer must make a choice about an action or decision in a future plan which is optimal at a later date but is not optimal initially
c.
Refers to a situation in which a policy results in varying results
d.
a situation in which an agent, planner or objective maximizer must make a choice about an action or decision in a future plan which is optimal initially but is no longer optimal at a later date
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