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Multiple Temptations

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  • John E. Stovall

Abstract

We use a preference-over-menus framework to model a decision maker who is affected by multiple temptations. Our two main axioms on preference-exclusion and inclusion-identify when the agent would want to restrict his choice set and when he would want to expand his choice set. An agent who is tempted would want to restrict his choice set by excluding the normatively worst alternative of that choice set. Simultaneously, he would want to expand his choice set by including a normatively superior alternative. Our representation identifies the agent's normative preference and temptations, and suggests the agent is uncertain which of these temptations will affect him. We provide examples to illustrate how our model improves on those of Gul and Pesendorfer (2001) and Dekel, Lipman, and Rustichini (2009). Copyright 2010 The Econometric Society.

Suggested Citation

  • John E. Stovall, 2010. "Multiple Temptations," Econometrica, Econometric Society, vol. 78(1), pages 349-376, January.
  • Handle: RePEc:ecm:emetrp:v:78:y:2010:i:1:p:349-376
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    File URL: http://hdl.handle.net/10.3982/ECTA8090
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    Cited by:

    1. Riella, Gil, 2013. "Preference for Flexibility and Dynamic Consistency," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2467-2482.
    2. Jawwad Noor, 2006. "Menu-Dependent Self-Control," Boston University - Department of Economics - Working Papers Series WP2006-021, Boston University - Department of Economics.
    3. Stovall, John E., 2018. "Temptation with uncertain normative preference," Theoretical Economics, Econometric Society, vol. 13(1), January.
    4. Gorno, Leandro, 2016. "Additive representation for preferences over menus in finite choice settings," Journal of Mathematical Economics, Elsevier, vol. 65(C), pages 41-47.
    5. David S. Ahn & Ryota Iijima & Yves Le Yaouanq & Todd Sarver, 2017. "Behavioral Characterizations of Naiveté for Time-Inconsistent Preferences," Cowles Foundation Discussion Papers 2074, Cowles Foundation for Research in Economics, Yale University.
    6. David S. Ahn & Ryota Iijima & Todd Sarver, 2017. "Naiveté About Temptation and Self-Control: Foundations for Naive Quasi-Hyperbolic Discounting," Cowles Foundation Discussion Papers 2099R, Cowles Foundation for Research in Economics, Yale University, revised Feb 2018.
    7. Monisankar Bishnu & Cagri S. Kumru & Arm Nakornthab, 2016. "Optimal Inheritance Tax under Temptation," ANU Working Papers in Economics and Econometrics 2016-637, Australian National University, College of Business and Economics, School of Economics.
    8. repec:eee:jetheo:v:173:y:2018:i:c:p:201-230 is not listed on IDEAS
    9. Leandro Gorno, 2010. "Additive representation for preferences over menus in finite choice settings," Working Papers 1292, Princeton University, Department of Economics, Econometric Research Program..
    10. Noor, Jawwad & Takeoka, Norio, 2015. "Menu-dependent self-control," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 1-20.

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