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Section "Approaches to time consistent assessment of preferences" is devoted to the time consistency property.
The difficulty is what Finn Kydland and Edward Prescott, in a 1977 paper, called the "time consistency" problem.
Today, let's visit the "time consistency" exhibit.
if and then check time consistency.
Clearly, weak acceptance/rejection time consistency for stochastic processes implies semi-weak acceptance/rejection time consistency.
We have not discussed semi-weak time consistency in the case of random variables, since, in that case, semi-weak time consistency coincides with the weak time consistency.
The time consistency index is defined as T/ S – 1).
They link time consistency to one step dynamic penalty functions.
Similar results hold true for weak rejection time consistency.
Analogous equivalences are true for weak rejection time consistency.
A similar statement holds true for rejection time consistency.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com