Costly Self-Control and Random Self-Indulgence

被引:21
|
作者
Dekel, Eddie [1 ,2 ]
Lipman, Barton L. [3 ]
机构
[1] Northwestern Univ, Dept Econ, Evanston, IL 60208 USA
[2] Tel Aviv Univ, Eitan Berglas Sch Econ, IL-69978 Tel Aviv, Israel
[3] Boston Univ, Dept Econ, Boston, MA 02215 USA
基金
美国国家科学基金会;
关键词
Temptation; Strotz; self control; random temptation; multi selves; INCONSISTENCY; TEMPTATION; PREFERENCES; AMBIGUITY; UTILITY; SETS;
D O I
10.3982/ECTA9280
中图分类号
F [经济];
学科分类号
02 ;
摘要
We study the random Strotz model, a version of the Strotz (1955) model with uncertainty about the nature of the temptation that will strike. We show that the random Strotz representation is unique and characterize a comparative notion of more temptation averse. Also, we demonstrate an unexpected connection between the random Strotz model and a generalization of the GulPesendorfer (GP) (2001) model of temptation which allows for the temptation to be uncertain and which we call random GP. In particular, a preference over menus has a random GP representation if and only if it also has a representation via a random Strotz model with sufficiently smooth uncertainty about the intensity of temptation. We also show that choices of menus combined with choices from menus can distinguish the random GP and random Strotz models.
引用
收藏
页码:1271 / 1302
页数:32
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