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Pleasing or Fighting Future Tastes? Projection Bias versus Conflict of Selves

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  • Krügel, Sebastian
  • Uhl, Matthias

Abstract

Previous studies apparently demonstrate that people systematically mispredict future tastes. This evidence, however, is also consistent with the idea that people understand, but do not approve of their future tastes. To disentangle both approaches, we conducted a framed field experiment with commitment option. In our experiment, commitment was a judgment which a planner imposed on another planner. The results suggest that people may sometimes experience a conflict between two far-sighted selves.

Suggested Citation

  • Krügel, Sebastian & Uhl, Matthias, 2017. "Pleasing or Fighting Future Tastes? Projection Bias versus Conflict of Selves," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168170, Verein für Socialpolitik / German Economic Association.
    • Handle: RePEc:zbw:vfsc17:168170
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    References listed on IDEAS

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    1. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March.
    2. Matthias Uhl, 2011. "Challenging the Intrapersonal Empathy Gap An Experiment with Self-Commitment Power," Jena Economics Research Papers 2011-019, Friedrich-Schiller-University Jena.
    3. Ned Augenblick & Muriel Niederle & Charles Sprenger, 2015. "Editor's Choice Working over Time: Dynamic Inconsistency in Real Effort Tasks," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 130(3), pages 1067-1115.
    4. Schelling, Thomas C, 1984. "Self-Command in Practice, in Policy, and in a Theory of Rational Choice," American Economic Review, American Economic Association, vol. 74(2), pages 1-11, May.
    5. Read, Daniel, 2006. "Which side are you on? The ethics of self-command," Journal of Economic Psychology, Elsevier, vol. 27(5), pages 681-693, October.
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    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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