Levine, David K.; Fudenberg, Drew - In: American Economic Review 96 (2006) 5, pp. 1449-1476
We propose that a simple ?dual-self? model gives a unified explanation for several empirical regularities, including the apparent time inconsistency that has motivated models of quasi-hyperbolic discounting and Rabin?s paradox of risk aversion in the large and small. The model also implies that...