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.

Additional Metadata
Keywords Dynamic consistency, Equity, Nonexpected utility, Procedural fairness, Time consistency
Persistent URL dx.doi.org/10.1016/j.econlet.2010.08.031, hdl.handle.net/1765/21462
Citation
Trautmann, S.T, & Wakker, P.P. (2010). Process Fairness and Dynamic Consistency. Economics Letters, 109(3), 187–189. doi:10.1016/j.econlet.2010.08.031