EconPapers    
Economics at your fingertips  
 

Commitments and weak resolve

Igor Kopylov () and Jawwad Noor ()
Additional contact information
Igor Kopylov: UC Irvine
Jawwad Noor: Boston University

Economic Theory, 2018, vol. 66, issue 1, 1-19

Abstract: Abstract Weak resolve can make agents forgo normatively desirable commitments and succumb to temptations later. Anticipating such failures, agents may use strategies like promises or deadlines to help themselves make proper commitments before temptations strike. We identify such behaviors via a three-period extension of Gul and Pesendorfer’s (Econometrica 69:1403–1435, 2001) model. Our main utility representation portrays an agent who is confident ex ante about her normative goals, but her resolve wavers at the interim stage leading her to relax these goals toward future temptations and possibly other directions. All components of our representations are derived in an essentially unique way from axioms imposed on choice behavior.

Keywords: Commitment; Deadlines; Engagements; Monotone self-control (search for similar items in EconPapers)
JEL-codes: D01 D03 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s00199-017-1061-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:66:y:2018:i:1:d:10.1007_s00199-017-1061-0

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2019-05-21
Handle: RePEc:spr:joecth:v:66:y:2018:i:1:d:10.1007_s00199-017-1061-0