To make high-quality research more accessible and easier to explore.

Fields:

Monetary Policy in an Inside-Money, Open Economy: Reply

Quarterly Journal of Economics 1981 96(2), 357
Journal Article Monetary Policy in an Inside-Money, Open Economy: Reply Get access Donald J. Mathieson Donald J. Mathieson International Monetary Fund Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 96, Issue 2, May 1981, Pages 357–361, https://doi.org/10.2307/1882396 Published: 01 May 1981

Myopic Economic Agents

Econometrica 1981 49(2), 359
This paper presents a model of myopic tastes, both in the context of intertemporal decision making and choice under uncertainty. Infinite dimensional consumption plans arise naturally in both contexts, either involving a denumerable number of periods or a countable number of states of the world. The essential feature of our model is that myopic behavior is formalized by defining topologies, on the space of consumption plans, which discount the future or improbable events.