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Temptations in General Settings

Author

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  • Kopylov Igor

    (University of California, Irvine, ikopylov@uci.edu)

Abstract

I generalize Gul and Pesendorfer's (2001) model of temptation to a multi-period framework where preferences are defined over menus of menus rather than over menus of terminal consumptions. This extension can be applied to model preemptive temptations, self-deception, and biased perceptions of subjective uncertainty.

Suggested Citation

  • Kopylov Igor, 2009. "Temptations in General Settings," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 9(1), pages 1-25, September.
    • Handle: RePEc:bpj:bejtec:v:9:y:2009:i:1:n:31
    DOI: 10.2202/1935-1704.1558
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    References listed on IDEAS

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    1. Eddie Dekel & Barton L Lipman & Aldo Rustichini & Todd Sarver, 2007. "Representing Preferences with a Unique Subjective State Space: A Corrigendum -super-1," Econometrica, Econometric Society, vol. 75(2), pages 591-600, March.
    2. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March.
    3. Noor, Jawwad, 2007. "Commitment and self-control," Journal of Economic Theory, Elsevier, vol. 135(1), pages 1-34, July.
    4. Larry G. Epstein, 2006. "An Axiomatic Model of Non-Bayesian Updating," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(2), pages 413-436.
    5. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    6. Faruk Gul & Wolfgang Pesendorfer, 2001. "Temptation and Self-Control," Econometrica, Econometric Society, vol. 69(6), pages 1403-1435, November.
    7. Faruk Gul & Wolfgang Pesendorfer, 2004. "Self-Control and the Theory of Consumption," Econometrica, Econometric Society, vol. 72(1), pages 119-158, January.
    8. Igor Kopylov & Jawwad Noor, 2009. "Self-Deception and Choice," Levine's Working Paper Archive 814577000000000319, David K. Levine.
    9. Dekel, Eddie & Lipman, Barton L & Rustichini, Aldo, 2001. "Representing Preferences with a Unique Subjective State Space," Econometrica, Econometric Society, vol. 69(4), pages 891-934, July.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Abe, Koji, 2012. "A geometric approach to temptation," Journal of Mathematical Economics, Elsevier, vol. 48(2), pages 92-97.
    2. Riella, Gil, 2013. "Preference for Flexibility and Dynamic Consistency," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2467-2482.
    3. Igor Kopylov & Jawwad Noor, 2009. "Self-Deception and Choice," Levine's Working Paper Archive 814577000000000319, David K. Levine.
    4. Ivan Fernandez-Val, 2005. "Bias Correction in Panel Data Models with Individual Specific Parameters," Boston University - Department of Economics - Working Papers Series WP2005-041, Boston University - Department of Economics.
    5. Eddie Dekel & Barton L. Lipman & Aldo Rustichini, 2009. "Temptation-Driven Preferences," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(3), pages 937-971.
    6. Stovall, John E., 2018. "Temptation with uncertain normative preference," Theoretical Economics, Econometric Society, vol. 13(1), January.
    7. Noor, Jawwad & Takeoka, Norio, 2015. "Menu-dependent self-control," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 1-20.
    8. André Lapied & Thomas Rongiconi, 2013. "Ambiguity as a Source of Temptation: Modeling Unstable Beliefs," AMSE Working Papers 1316, Aix-Marseille School of Economics, France.
    9. , G. & , & ,, 2008. "Non-Bayesian updating: A theoretical framework," Theoretical Economics, Econometric Society, vol. 3(2), June.
    10. Noor, Jawwad & Ren, Linxia, 2023. "Temptation and guilt," Games and Economic Behavior, Elsevier, vol. 140(C), pages 272-295.
    11. Wojciech Olszewski, 2011. "A model of consumption-dependent temptation," Theory and Decision, Springer, vol. 70(1), pages 83-93, January.
    12. Larry G. Epstein, 2006. "An Axiomatic Model of Non-Bayesian Updating," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(2), pages 413-436.
    13. Gorno, Leandro, 2016. "Additive representation for preferences over menus in finite choice settings," Journal of Mathematical Economics, Elsevier, vol. 65(C), pages 41-47.
    14. Klaus Nehring, 2006. "Self-Control through Second-Order Preferences," Levine's Bibliography 321307000000000391, UCLA Department of Economics.
    15. Barton L. Lipman & Wolfgang Pesendorfer, 2010. "Temptation," Boston University - Department of Economics - Working Papers Series WP2010-021, Boston University - Department of Economics.
    16. Larry G. Epstein & Igor Kopylov, 2007. "An axiomatic model of 'cold feet'," RCER Working Papers 533, University of Rochester - Center for Economic Research (RCER).
    17. Igor Kopylov & Jawwad Noor, 2018. "Commitments and weak resolve," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 66(1), pages 1-19, July.
    18. Jawwad Noor & Linxia Ren, 2011. "Temptation and Social Preference," Boston University - Department of Economics - Working Papers Series WP2011-040, Boston University - Department of Economics.
    19. Larry Epstein & Igor Kopylov, 2006. "Cognitive Dissonance and Choice," RCER Working Papers 525, University of Rochester - Center for Economic Research (RCER).
    20. Leandro Gorno, 2010. "Additive representation for preferences over menus in finite choice settings," Working Papers 1292, Princeton University, Department of Economics, Econometric Research Program..

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