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Trautmann, S. and Wakker, P. (2010). Process Fairness and Dynamic Consistency Economics Letters, 109(3):187--189.

  • Journal
    Economics Letters
View publication

Abstract: When process fairness deviates from outcome fairness, dynamic inconsistencies can arise as in nonexpected utility. Resolute choice (Machina) can restore dynamic consistency under nonexpected utility without using Strotz's precommitment. It can similarly justify dynamically consistent process fairness.