We study the implications of flexible adjustment in strategic interactions using a class of finite-horizon models in continuous time. Players take costly actions to affect the evolution of state variables that are commonly observable and perturbed by Brownian noise. The values of these state...

We introduce and characterize a recursive model of dynamic choice that accommodates naiveté about present bias. The model incorporates costly self-control in the sense of Gul and Pesendorfer (2001) to overcome the technical hurdles of the Strotz representation. The important novel condition is...

We investigate the effect of information lags in discrete time evolutionary game dynamics on symmetric games. At the end of each period, some players obtain information about the distribution of strategies among the entire population. They update their strategies according to this information....