A Markov Decision Process with Awareness and Present Bias in Decision-Making

We propose a Markov Decision Process Model that blends ideas from Psychological research and Economics to study decision-making in individuals with self-control problems. have borrowed dual-process of self-awareness research, we introduce present bias inter-temporal preferences, phenomenon widely explored Economics. allow for both an exogenous endogenous, state-dependent, explore, by means numerical simulations, the consequences on well-being emerging solution model. show that, over time, may mitigate suboptimal choice behaviour.