| Dessription |
Individuals have preferences over sets of alternatives that represent second period choices. Our axioms yield a representation that identifies the ranking of the commitment of an individual, temptation ranking, and cost of self-control. An agent has a preference for commitment if she strictly prefers a subset of alternatives to the set itself. An agent has self-control if she resists temptation and chooses an option with higher ex ante utility. We introduce comparative measures of preference for commitment and self-control and relate them to our representations. |
