Midlands State University Library
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Sweet self-deception created by Dag Einar Sommervoll

By: Material type: TextTextSeries: Journal of Economics ; Volume 109, number 1Heidelberg: Springer, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 09318658
Subject(s): LOC classification:
  • HB171.5 JOU
Online resources: Abstract: People have a tendency to procrastinate when faced with aversive tasks—but they also procrastinate in relation to beneficial matters whose rewards are instantaneous. If agents value present anticipations of future consumption, revision of consumption plans may be viewed as a benign form of self-deception. We consider a minimal generalization of the Samuelson discounted utility model to allow for utility linked to next period consumption. Agents are assumed to vary with respect to their sophistication. In this context, commitment and self-control are obstacles to the pursuit of increased utility. We also examine different environments that are likely to facilitate repeated revisions.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB171.5 JOU (Browse shelf(Opens below)) Vol. 109, no. 1 (pages 73-88) SP20885 Not for loan For In house Use

People have a tendency to procrastinate when faced with aversive tasks—but they also procrastinate in relation to beneficial matters whose rewards are instantaneous. If agents value present anticipations of future consumption, revision of consumption plans may be viewed as a benign form of self-deception. We consider a minimal generalization of the Samuelson discounted utility model to allow for utility linked to next period consumption. Agents are assumed to vary with respect to their sophistication. In this context, commitment and self-control are obstacles to the pursuit of increased utility. We also examine different environments that are likely to facilitate repeated revisions.

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