Willpower and the Optimal Control of Visceral Urges
Emre Ozdenoren (),
Stephen Salant and
No 69, Economics Working Papers from Institute for Advanced Study, School of Social Science
Common intuition and experimental psychology suggest that the ability to self-regulate, willpower, is a depletable resource. We investigate the behavior of an agent who optimally consumes a cake (or paycheck or workload) over time and who recognizes that restraining his consumption too much would exhaust his willpower and leave him unable to manage his consumption. Unlike prior models of self-control, a model with willpower depletion can explain the increasing consumption sequences observable in high frequency data (and corresponding laboratory findings), the apparent links between unrelated self-control behaviors, and the altered economic behavior following imposition of cognitive loads. At the same time, willpower depletion provides an alternative explanation for a taste for commitment, intertemporal preference reversals, and procrastination. Accounting for willpower depletion thus provides a more unified theory of time preference. It also provides an explanation for anomalous intratemporal behaviors such as low correlations between health-related activities.
Pages: 41 pages
New Economics Papers: this item is included in nep-cbe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (31) Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.sss.ias.edu/publications/papers/econpaper69.pdf [301 Moved Permanently]--> https://www.sss.ias.edu/publications/papers/econpaper69.pdf [301 Moved Permanently]--> https://www.ias.edu/sss/publications/papers/econpaper69.pdf)
Journal Article: WILLPOWER AND THE OPTIMAL CONTROL OF VISCERAL URGES (2012)
Working Paper: Willpower and the Optimal Control of Visceral Urges (2010)
Working Paper: Willpower and Optimal Control of Visceral Urges (2006)
Working Paper: Willpower and the Optimal Control of Visceral Urges (2006)
Working Paper: Willpower and the Optimal Control of Visceral Urges (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ads:wpaper:0069
Access Statistics for this paper
More papers in Economics Working Papers from Institute for Advanced Study, School of Social Science Contact information at EDIRC.
Bibliographic data for series maintained by Nancy Cotterman ().