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temptation, and so mistakenly forego pre-commitment. Our analysis reveals conditions under which higher willpower - and lower …
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over-spend on a commodity for which they experience temptation (TP good). Resisting that temptation gives rise to a utility … short of) the marginal valuation of leisure that arises if the consumer would succumb to the temptation. We use iso …
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We investigate renewable resources when the harvesting agents face self-control problems. Individuals are conceptualized as dual selves. The rational long-run self plans for the infinite future while the affective short-run self desires to maximize instantaneous profits. Depending on the degree...
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This paper extends the theory of temptation and self-control introduced by Gul and Pesendorfer (2001) to allow for … increasing marginal costs of resisting temptation, that is, convex self-control costs. It also proves a representation theorem …
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temptation and self-control to capture an individual who changes her beliefs so as to become more pessimistic as payoff time …
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