Dynamic inconsistency and self-control: A planner-doer interpretation

Roland Bénabou; Marek Pycia

doi:10.1016/S0165-1765(02)00158-1

Dynamic inconsistency and self-control: A planner-doer interpretation

Roland Bénabou, Marek Pycia

Research output: Contribution to journal › Article › peer-review

57 Scopus citations

Abstract

We show that Gul and Pesendorfer's [Econometrica 69 (2001) 1403] representation result for preferences with temptation and self-control can be reexpressed in terms of a costly intrapersonal conflict between a Planner and Doer, as in Thaler and Shefrin [J. Political Econ. 89 (1981) 392] and psychologists' standard view of self-control problems.

Original language	English (US)
Pages (from-to)	419-424
Number of pages	6
Journal	Economics Letters
Volume	77
Issue number	3
DOIs	https://doi.org/10.1016/S0165-1765(02)00158-1
State	Published - Nov 1 2002
Externally published	Yes

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

Keywords

Intertemporal choice
Self-control
Temptation
Time consistency

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10.1016/S0165-1765(02)00158-1

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title = "Dynamic inconsistency and self-control: A planner-doer interpretation",

abstract = "We show that Gul and Pesendorfer's [Econometrica 69 (2001) 1403] representation result for preferences with temptation and self-control can be reexpressed in terms of a costly intrapersonal conflict between a Planner and Doer, as in Thaler and Shefrin [J. Political Econ. 89 (1981) 392] and psychologists' standard view of self-control problems.",

keywords = "Intertemporal choice, Self-control, Temptation, Time consistency",

author = "Roland B{\'e}nabou and Marek Pycia",

note = "Funding Information: We are grateful to Jean Tirole for stimulating the discussions that led to this note, and to Sendhil Mullainathan for helpful comments. B{\'e}nabou gratefully acknowledges financial support from the National Science Foundation (SES–0096431).",

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AU - Bénabou, Roland

AU - Pycia, Marek

N1 - Funding Information: We are grateful to Jean Tirole for stimulating the discussions that led to this note, and to Sendhil Mullainathan for helpful comments. Bénabou gratefully acknowledges financial support from the National Science Foundation (SES–0096431).

PY - 2002/11/1

Y1 - 2002/11/1

N2 - We show that Gul and Pesendorfer's [Econometrica 69 (2001) 1403] representation result for preferences with temptation and self-control can be reexpressed in terms of a costly intrapersonal conflict between a Planner and Doer, as in Thaler and Shefrin [J. Political Econ. 89 (1981) 392] and psychologists' standard view of self-control problems.

AB - We show that Gul and Pesendorfer's [Econometrica 69 (2001) 1403] representation result for preferences with temptation and self-control can be reexpressed in terms of a costly intrapersonal conflict between a Planner and Doer, as in Thaler and Shefrin [J. Political Econ. 89 (1981) 392] and psychologists' standard view of self-control problems.

KW - Intertemporal choice

KW - Self-control

KW - Temptation

KW - Time consistency

UR - https://www.scopus.com/pages/publications/0036828617

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DO - 10.1016/S0165-1765(02)00158-1

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SN - 0165-1765

VL - 77

SP - 419

EP - 424

JO - Economics Letters

JF - Economics Letters

IS - 3

ER -

Dynamic inconsistency and self-control: A planner-doer interpretation

Abstract

All Science Journal Classification (ASJC) codes

Keywords

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