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Commitments and weak resolve

Author

Listed:
  • Igor Kopylov

    (UC Irvine)

  • Jawwad Noor

    (Boston University)

Abstract

Weak resolve can make agents forgo normatively desirable commitments and succumb to temptations later. Anticipating such failures, agents may use strategies like promises or deadlines to help themselves make proper commitments before temptations strike. We identify such behaviors via a three-period extension of Gul and Pesendorfer’s (Econometrica 69:1403–1435, 2001) model. Our main utility representation portrays an agent who is confident ex ante about her normative goals, but her resolve wavers at the interim stage leading her to relax these goals toward future temptations and possibly other directions. All components of our representations are derived in an essentially unique way from axioms imposed on choice behavior.

Suggested Citation

  • Igor Kopylov & Jawwad Noor, 2018. "Commitments and weak resolve," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 66(1), pages 1-19, July.
    • Handle: RePEc:spr:joecth:v:66:y:2018:i:1:d:10.1007_s00199-017-1061-0
    DOI: 10.1007/s00199-017-1061-0
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    References listed on IDEAS

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    1. John E. Stovall, 2010. "Multiple Temptations," Econometrica, Econometric Society, vol. 78(1), pages 349-376, January.
    2. David S. Ahn & Ryota Iijima & Yves Le Yaouanq & Todd Sarver, 2017. "Behavioral Characterizations of Naivet� for Time-Inconsistent Preferences," Cowles Foundation Discussion Papers 2074, Cowles Foundation for Research in Economics, Yale University.
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    6. Noor, Jawwad, 2007. "Commitment and self-control," Journal of Economic Theory, Elsevier, vol. 135(1), pages 1-34, July.
    7. , G. & , & ,, 2008. "Non-Bayesian updating: A theoretical framework," Theoretical Economics, Econometric Society, vol. 3(2), June.
    8. Jianjun Miao, 2008. "Option exercise with temptation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 34(3), pages 473-501, March.
    9. Igor Kopylov, 2012. "Perfectionism and Choice," Econometrica, Econometric Society, vol. 80(5), pages 1819-1843, September.
    10. Larry G. Epstein, 2006. "An Axiomatic Model of Non-Bayesian Updating," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(2), pages 413-436.
    11. Faruk Gul & Wolfgang Pesendorfer, 2001. "Temptation and Self-Control," Econometrica, Econometric Society, vol. 69(6), pages 1403-1435, November.
    12. Larry G. Epstein & Jawwad Noor & Alvaro Sandroni, 2008. "Supplementary Appendix for ‘Non-Bayesian Updating: A Theoretical Framework’," PIER Working Paper Archive 08-017, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    13. Kopylov Igor, 2009. "Temptations in General Settings," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 9(1), pages 1-25, September.
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    Cited by:

    1. Stovall, John E., 2018. "Temptation with uncertain normative preference," Theoretical Economics, Econometric Society, vol. 13(1), January.
    2. Takashi Hayashi & Norio Takeoka, 2022. "Habit formation, self-deception, and self-control," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 74(2), pages 547-592, September.
    3. Shinsuke Ikeda & Takeshi Ojima, 2021. "Tempting goods, self-control fatigue, and time preference in consumer dynamics," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(4), pages 1171-1216, November.
    4. Noor, Jawwad & Ren, Linxia, 2023. "Temptation and guilt," Games and Economic Behavior, Elsevier, vol. 140(C), pages 272-295.

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    More about this item

    Keywords

    Commitment; Deadlines; Engagements; Monotone self-control;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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