|Appears in Collections:||Economics Journal Articles|
|Peer Review Status:||Refereed|
|Title:||A theory of self-control and naïveté: The blights of willpower and blessings of temptation|
|Author(s):||Myrseth, Kristian Ove R|
Wollbrant, Conny E
|Citation:||Myrseth KOR & Wollbrant CE (2013) A theory of self-control and naïveté: The blights of willpower and blessings of temptation. Journal of Economic Psychology, 34, pp. 8-19. https://doi.org/10.1016/j.joep.2012.11.003|
|Abstract:||We model self-control conflict as an agent's stochastic struggle against a visceral influence that impels the agent to act sub-optimally. The agent holds costly pre-commitment technology to avoid the conflict altogether and may decide whether to procure pre-commitment or to confront the visceral influence. We examine naïve expectations for the strength of the visceral influence; naïve expectations lead the agent to exaggerate the expected utility of resisting temptation and so mistakenly forego pre-commitment. Contrary to accepted wisdom, our analysis reveals conditions under which higher will-power—and lower visceral influence—reduces welfare. Our analysis, therefore, calls into question policy measures that influence willpower and visceral influences.|
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