caa a22 4500 463174062 CHVBK 20180406164821.0 cr unu---uuuuu 170326e20071201xx s 000 0 eng 10.1007/s00355-007-0250-3 doi (NATIONALLICENCE)springer-10.1007/s00355-007-0250-3 Sugden Robert School of Economics, University of East Anglia, NR4 7TJ, Norwich, UK aut The value of opportunities over time when preferences are unstable [Elektronische Daten] [Robert Sugden] Most work on measuring opportunity is directed at ranking opportunity sets. This paper addresses the more general issue of assessing the opportunity provided by multi-period decision problems, focusing on the dynamic inconsistencies that can occur if agent's preferences are unstable. A principle is proposed by which a dominance relation among outcomes iteratively induces a dominance relation among multi-period problems. This principle implies that opportunities to make sequences of individually reasonable actions have positive value, even if, because of dynamic inconsistency, those sequences lead to unambiguous loss. Opportunities which allow an agent to constrain herself are shown to have zero value. Springer-Verlag, 2007 Social Choice and Welfare Springer-Verlag 29/4(2007-12-01), 665-682 0176-1714 29:4<665 2007 29 355 https://doi.org/10.1007/s00355-007-0250-3 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s00355-007-0250-3 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Sugden Robert School of Economics, University of East Anglia, NR4 7TJ, Norwich, UK aut NATIONALLICENCE 773 0- Social Choice and Welfare Springer-Verlag 29/4(2007-12-01), 665-682 0176-1714 29:4<665 2007 29 355 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer