Optimal Equilibria for Multidimensional Time-Inconsistent Stopping Problems

نویسندگان

چکیده

We study an optimal stopping problem under non-exponential discounting, where the state process is a multi-dimensional continuous strong Markov process. The discount function taken to be log sub-additive, capturing decreasing impatience in behavioral economics. On strength of probabilistic potential theory, we establish existence equilibrium among sufficiently large collection equilibria, consisting finely closed equilibria satisfying boundary condition. This generalizes for one-dimensional problems prior literature.

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ژورنال

عنوان ژورنال: Siam Journal on Control and Optimization

سال: 2021

ISSN: ['0363-0129', '1095-7138']

DOI: https://doi.org/10.1137/20m1343774