Temptations: A General Theory of Over-eating, Under-saving, Favoritism, Certainty Effect, Spoiling of Children, Pornography-Viewing, and Regretting
This paper traces temptations to biased beliefs—instead of the standard approach that traces temptations to biased tastes. The proposed theory affords, in two ways, a more general framework than what is afforded by the standard approach: First, to start with biased beliefs can simultaneously explain the temptation to cheat others as well as the temptation to cheat oneself. Second, to start with biased beliefs allows us to go beyond the stress on biological urges and time-inconsistent tastes. This allows us to consider cases of temptations that are not traditionally considered as temptations–such cases include favoritism, the certainty effect, the spoiling of children, pornography-viewing, and regretting.
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"Moral Hazard in Teams,"
471, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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