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Self-regulatory strength and dynamic optimal purchase

Author

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  • Kamei, Kenju

Abstract

I study a single-agent dynamic purchase problem by using a Gul and Pesendorfer’s [Gul, F., Pesendorfer, W., 2007. Harmful addiction. Review of Economic Studies 74 (1), 147–172] dynamic preference: extreme self-control cannot be sustained and leads to addiction. This type of agent exhibits a behavioral pattern of self-regulatory depletion.

Suggested Citation

  • Kamei, Kenju, 2012. "Self-regulatory strength and dynamic optimal purchase," Economics Letters, Elsevier, vol. 115(3), pages 452-454.
  • Handle: RePEc:eee:ecolet:v:115:y:2012:i:3:p:452-454
    DOI: 10.1016/j.econlet.2011.12.120
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    References listed on IDEAS

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    1. Emre Ozdenoren & Stephen W. Salant & Dan Silverman, 2012. "Willpower And The Optimal Control Of Visceral Urges," Journal of the European Economic Association, European Economic Association, vol. 10(2), pages 342-368, April.
    2. Faruk Gul & Wolfgang Pesendorfer, 2004. "Self Control, Revealed Preferences and Consumption Choice," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(2), pages 243-264, April.
    3. Faruk Gul & Wolfgang Pesendorfer, 2004. "Self-Control and the Theory of Consumption," Econometrica, Econometric Society, vol. 72(1), pages 119-158, January.
    4. Faruk Gul & Wolfgang Pesendorfer, 2007. "Harmful Addiction," Review of Economic Studies, Oxford University Press, vol. 74(1), pages 147-172.
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    More about this item

    Keywords

    Self-control; Optimal control; Consumption;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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