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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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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...
Persistent link: https://www.econbiz.de/10012302852
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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