A Geometric Approach to Temptation and Self-Control
نویسندگان
چکیده
منابع مشابه
Temptation and Self-Control†
In a two period decision problem, we study individuals who, in the second period, may be tempted by ex ante inferior choices. Individuals have preferences over sets of alternatives that represent the feasible choices in the second period. Our axioms yield a representation that identifies the individual’s commitment ranking, her temptation ranking, and her cost of selfcontrol. We provide an axio...
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In this paper we consider the following two-period problem of self-control. In the first period, an individual has to decide on the set of feasible choices from which she will select one in the second period. In the second period, the individual might choose an alternative that she would find inferior in the first period. This eventuality need not occur with certainty but might be triggered by ...
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GP studied preferences over menus (sets) of alternatives. This implicitly means that the decision maker chooses a menu and then selects an alternative from the menu. Consider a compact metric space Z of prizes. Let ∆ be the set of all Borel probability measures over Z. An element in ∆ represents an alternative for (implicit) choice. Assume that ∆ is endowed with the topology of weak convergence...
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Standard pricing theories consider consumers without temptation. With temptation and costly self-control, consumers dislike choice sets with tempting alternatives. We study firms’ strategy against such consumers, using Gul–Pesendorfer preferences and a game where firms compete by offering menus. JEL Classification: D43, L13, L15
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We consider a principal-agent model, where a single agent exhibits problems of self control modelled using Gul, Pesendorfer (2001) type temptation preferences. For a general class of preferences, yet specific family of temptation utilities, we characterize an optimal contract in such a setting using standard Grossman, Hart (1983) techniques. Firstly, our analysis shows that contrary to standard...
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ژورنال
عنوان ژورنال: Theoretical Economics Letters
سال: 2016
ISSN: 2162-2078,2162-2086
DOI: 10.4236/tel.2016.63060