time inconsistency

Definitions

Economics

  • noun a change in policy which takes place after a certain amount of time, or policies taken at a certain time which conflict with previous policies

Health Economics

  • (written as Time Inconsistency)
    This is the idea that individuals' behaviour in the future is not consistent with their stated preferences in the present concerning that future behaviour. Much evidence suggests that people, and governments too, are time inconsistent.
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