This paper illustrates the concept of sustainable equilibrium, reviews its main features and properties, and shows that a time-inconsistency problem might arise, in fact introducing the notion of time-consistent equilibrium. After describing what is peculiar in this idea of sustainable equilibrium, we state an exact definition.
Sustainable plans: a review
MERELLA, VINCENZO
2004-01-01
Abstract
This paper illustrates the concept of sustainable equilibrium, reviews its main features and properties, and shows that a time-inconsistency problem might arise, in fact introducing the notion of time-consistent equilibrium. After describing what is peculiar in this idea of sustainable equilibrium, we state an exact definition.
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