Abstract
We study a two-period model where ex ante inferior choice may tempt the decision-maker in the second period. Individuals have preferences over sets of alternatives that represent second period choices. Our axioms yield a representation that identifies the individual's commitment ranking, temptation ranking, and cost of self-control. An agent has a preference for commitment if she strictly prefers a subset of alternatives to the set itself. An agent has self-control if she resists temptation and chooses an option with higher ex ante utility. We introduce comparative measures of preference for commitment and self-control and relate them to our representations.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 1403-1435 |
| Number of pages | 33 |
| Journal | Econometrica |
| Volume | 69 |
| Issue number | 6 |
| DOIs | |
| State | Published - 2001 |
All Science Journal Classification (ASJC) codes
- Economics and Econometrics
Keywords
- Dynamic choice
- Preference for commitment
- Set betweenness
Fingerprint
Dive into the research topics of 'Temptation and self-control'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver