Sophistication about self-control

Deborah Cobb-Clark, Sarah C. Dahmann, Daniel A. Kamhöfer and Hannah Schildberg-Hörisch

Journal of Public Economics, 2024, vol. 238, issue C

Abstract: We use information on people’s ideal, predicted, and realized body weight to classify them as time-consistent versus naïve, and partially or fully sophisticated regarding their self-control limitations. Operationalizing this approach in population-representative data reveals that self-control problems are pervasive and that most people are at least partly aware of their limited self-control. Compared to naïfs, sophisticates have higher IQs, better educated parents, and are more likely to use potential commitment devices. Despite their self-control problems, sophisticated individuals make similar choices as time-consistent individuals when those choices involve immediate costs and later benefits. An increased awareness of one’s own self-control limitations may thus help in reducing their adverse consequences.

Keywords: Self-control; Sophistication; Naïveté; Commitment devices; Present focus (search for similar items in EconPapers)
JEL-codes: D01 D91 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Sophistication about Self-Control (2021)
Working Paper: Sophistication about Self-Control (2021)
Working Paper: Sophistication about Self-Control (2021)
Working Paper: Sophistication about self-control (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:pubeco:v:238:y:2024:i:c:s0047272724001324

DOI: 10.1016/j.jpubeco.2024.105196

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