Self Control , Revealed Preference and Consumption Choice †

  title={Self Control , Revealed Preference and Consumption Choice †},
  author={Faruk Gul and Wolfgang Pesendorfer},
We provide a time-consistent model that addresses the preference reversals that moti time-inconsistency literature. The model subsumes the behavior generated by the time-incon approach in finite settings but, unlike the time-inconsistent models, allows for self-control. This provides a brief summary of theoretical results shown elsewhere [Gul and Pesendorfer, Econo 69 (2001) 1403; Econometrica, (2002), in press; Rev. Econ. Stud. (2002), in press] and contr predictions and welfare implications… CONTINUE READING

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