We consider the following two-period problem of self-control. In the
first period, an individual has to decide on the set of feasible choices
from which she will select one in the second period. In the second
period, the individual might choose an alternative that she would
find inferior in the first period, an eventuality that need not occur
with certainty. We propose a model for this problem and axioms for
first-period preferences, in which the second-period choice could be
interpreted as being made by an "alter ego" who appears randomly.
We provide a discussion of the behavioral implications of our model
as compared with existing theories. (JEL D11, D80)
Chatterjee, Kalyan, and R. Vijay Krishna.
"A "Dual Self" Representation for Stochastic Temptation."
American Economic Journal: Microeconomics,
Consumer Economics: Theory
Information, Knowledge, and Uncertainty: General