Temptation and Self-Control: Some Evidence and Applications
نویسندگان
چکیده
منابع مشابه
Temptation and Self-Control: Some Evidence and Applications
This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We estimate an infinite-horizon consumptionsavings model that allows, but does not require, temptation and self-control in preferences. To help identify the presence of temptation, we exploit an implication of the theory that a tempted individual has a prefe...
متن کاملTemptation 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...
متن کاملTemptation and Self-Control: Some Evidence from the Consumer Expenditure Survey∗
This paper empirically estimates a balanced-growth consistent, dynamic, structural model of intertemporal consumption and asset pricing that allows for, but does not assume, the GulPesendorfer preferences of temptation and self-control, using synthetic panel data constructed from the Consumer Expenditure Survey. One novelty of our model is that the cross-sectional distribution of wealth-consump...
متن کاملTemptation, Self-Control, and Competitive Nonlinear Pricing
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
متن کاملTemptation and Self-Control: A Corrigendum
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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ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 2015
ISSN: 0022-2879
DOI: 10.1111/jmcb.12222