Institution Building without Commitment
提出一种在时间一致性环境下逐步实施好政策的理论，通过允许代理人等待和重启均衡，使资源配置逐渐兼顾短期和长期考量，虽未达最优但显著改善马尔可夫均衡，并用于解释气候政策和全球关税率的缓慢出现。
We propose a theory of gradualism in the implementation of good policies, suitable for environments featuring time consistency. We downplay the role of the initial period by allowing agents both to wait for future agents to start equilibrium play and to restart the equilibrium by ignoring past history. The allocation gradually transits toward one that weighs both short- and long-term concerns, stopping short of the Ramsey outcome but greatly improving upon Markovian equilibria. We use the theory to account for the slow emergence of both climate policies and the reduction of global tariff rates.