Strategically influencing an uncertain future.

ABSTRACT: Many of today's most pressing societal concerns require decisions which take into account a distant and uncertain future. Recent developments in strategic decision-making suggest that individuals, or a small group of individuals, can unilaterally influence the collective outcome of such complex social dilemmas. However, these results do not account for the extent to which decisions are moderated by uncertainty in the probability or timing of future outcomes that characterise the valuation of a (distant) uncertain future. Here we develop a general framework that captures interactions among uncertainty, the resulting time-inconsistent discounting, and their consequences for decision-making processes. In deterministic limits, existing theories can be recovered. More importantly, new insights

SUBMITTER: Govaert A 

PROVIDER: S-EPMC7376051 | biostudies-literature | 2020 Jul

REPOSITORIES: biostudies-literature