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The Simple Theory of Temptation and Self-Control

Author

Listed:
  • Faruk Gul

    (Princeton University)

  • Wolfgang Pesendorfer

    (Princeton University)

Abstract

We analyze a two period model of temptation for a finite choice setting. We formalize the idea that temptation depends only on the most tempting alternatives and provide two representations of such preferences. The representation is an ordinal analogue of the self-control preferences in Gul and Pesendorfer (2001).

Suggested Citation

  • Faruk Gul & Wolfgang Pesendorfer, 2005. "The Simple Theory of Temptation and Self-Control," Working Papers 2005-1, Princeton University. Economics Department..
    • Handle: RePEc:pri:econom:2005-1
    as

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    File URL: http://www.princeton.edu/~pesendor/finite.pdf
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    References listed on IDEAS

    as
    1. R. H. Strotz, 1955. "Myopia and Inconsistency in Dynamic Utility Maximization," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 23(3), pages 165-180.
    2. Faruk Gul & Wolfgang Pesendorfer, 2005. "The Revealed Preference Theory of Changing Tastes," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(2), pages 429-448.
    3. Dekel, Eddie & Lipman, Barton L & Rustichini, Aldo, 2001. "Representing Preferences with a Unique Subjective State Space," Econometrica, Econometric Society, vol. 69(4), pages 891-934, July.
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    More about this item

    Keywords

    Temptation; Choice; Self-control;
    All these keywords.

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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