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Commitment and Self-Control Author info | Abstract | Publisher info | Download info | Related research | Statistics Jawwad Noor (Boston University)
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The literature on self-control problems has typically concentrated on immediate temptations. This paper studies a Gul and Pesendorfer (2001, 2004) 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.
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Paper provided by EconWPA in its series Microeconomics with number
0509008.
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Length: 46 pages
Date of creation: 28 Sep 2005Date of revision:
Handle: RePEc:wpa:wuwpmi:0509008Note: Type of Document - pdf; pages: 46Contact details of provider: Web page: http://129.3.20.41
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Keywords: Self-Control ; Temptation ; Commitment ; Preference Reversals ; Procrastination ; Other versions of this item:
Find related papers by JEL classification: D1 - Microeconomics - - Household Behavior D2 - Microeconomics - - Production and Organizations D3 - Microeconomics - - Distribution D4 - Microeconomics - - Market Structure and Pricing
This paper has been announced in the following NEP Reports :
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Jawwad Noor, 2005.
"Temptation, Welfare and Revealed Preference ,"
Microeconomics
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Other versions: Jawwad Noor, 2005.
"Temptation, Welfare and Revealed Preference ,"
Boston University - Department of Economics - Working Papers Series
WP2005-15, Boston University - Department of Economics.
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Ivan Fernandez-Val, 2007.
"Fixed Effects Estimation of Structural Parameters and Marginal Effects in Panel Probit Models ,"
Boston University - Department of Economics - Working Papers Series
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Jawwad Noor, 2006.
"Temptation, Welfare and Revealed Preference ,"
Boston University - Department of Economics - Working Papers Series
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Jawwad Noor & Norio Takeoka, 2009.
"Uphill Self-Control ,"
Levine's Working Paper Archive
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[Downloadable!]
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