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Time Inconsistency

by James Tierney

Time inconsistency is one of those economic topics that is quite easy to have a basic understanding of but quite difficult to understand full models that employ it. This video can be used as a lead in during a behavioral economics course or a microeconomics course that touches on behavioral economics.

Time Inconsistency -- State Farm Commercial

In this commercial for State Farm we see an example of the economic concept time inconsistency. The main character of the commercial change his preferences over time.

from State Farm Commercial (2014)
Creator: DDB, Chicago
Distributor: State Farm YouTube
Posted by James Tierney