中文摘要
我们提出了一种关于良策实施渐进主义的理论,适用于具有时间一致性的环境。我们通过允许参与人既可等待未来的参与人开启均衡博弈,又可通过忽略过去历史来重启均衡,弱化了初始期的作用。配置逐渐向兼顾短期与长期考量的状态过渡,虽未达到拉姆齐结果,但相较马尔可夫均衡有大幅改善。我们运用该理论解释气候政策与全球关税税率降低为何缓慢出现。(JEL C73, E21, E61, F13, H30)
Abstract
We propose a theory of gradualism in the implementation of good policies, suitable for environments featuring time consistency. We downplay the role of the initial period by allowing agents both to wait for future agents to start equilibrium play and to restart the equilibrium by ignoring past history. The allocation gradually transits toward one that weighs both short- and long-term concerns, stopping short of the Ramsey outcome but greatly improving upon Markovian equilibria. We use the theory to account for the slow emergence of both climate policies and the reduction of global tariff rates. (JEL C73, E21, E61, F13, H30)