Commitment and self-control

• 成果类型: Article
• 署名作者: Noor, Jawwad
• 署名单位: Boston University
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2006.03.017
• 发表日期: 2007
• 页码: 1-34
• 关键词: self-control; temptation; COMMITMENT; preference reversals; procrastination

摘要

The literature on self-control problems has typically concentrated on immediate temptations. This paper studies a Gul and Pesendorfer [Temptation and self-control, Econometrica 69 (2001) 1403-1435; Self-control and the theory of consumption, Econometrica 72 (2004) 119-158] style model in which decision-makers are affected by temptations that lie in the future. While temptation is commonly understood to give rise to a demand for commitment, it is shown that 'temptation by future consumption' can induce its absence. The model also exhibits procrastination, provides an alternative to projection bias as an explanation for some experimental results, and can simultaneously account for myopic and hyperopic behavior. The evidence on preference reversals supports temptation by future consumption, and suggests that it may not be restricted to short time horizons. (c) 2006 Elsevier Inc. All rights reserved.