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Mood-driven choices and self-regulation
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dc.contributor.author | Mihm, Max | |
dc.contributor.author | Ozbek, Kemal | |
dc.date.accessioned | 2019-11-09T00:36:53Z | |
dc.date.available | 2019-11-09T00:36:53Z | |
dc.date.issued | 2018-07 | |
dc.identifier | 253017163 | |
dc.identifier | 616575b4-c1f2-4d29-a61f-2567632dbea9 | |
dc.identifier | 85047018441 | |
dc.identifier | 000439751500023 | |
dc.identifier.citation | Mihm , M & Ozbek , K 2018 , ' Mood-driven choices and self-regulation ' , Journal of Economic Theory , vol. 176 , pp. 727-760 . https://doi.org/10.1016/j.jet.2018.05.006 | en |
dc.identifier.issn | 0022-0531 | |
dc.identifier.other | ORCID: /0000-0003-3265-233X/work/44629843 | |
dc.identifier.uri | https://hdl.handle.net/10023/18890 | |
dc.description.abstract | We model a decision maker who can exert costly effort to regulate herself, thereby reducing internal conflicts between her normative objectives and mood-driven choices. We provide an axiomatic characterization of the model, and show how costs of self-regulation can be elicited and compared across individuals. In a consumption-saving problem we show that self-regulation can generate unintended income effects, which have important implications for public policies on saving behavior. We also provide several examples to illustrate how self-regulation can rationalize many well-known choice anomalies. These behavioral implications follow from a key feature of the model that self-regulation decisions can respond to changes in incentives. | |
dc.format.extent | 53 | |
dc.format.extent | 668272 | |
dc.language.iso | eng | |
dc.relation.ispartof | Journal of Economic Theory | en |
dc.subject | Choice anomalies | en |
dc.subject | Consumption-saving | en |
dc.subject | Desire for commitment | en |
dc.subject | Internal conflict | en |
dc.subject | Random Strotz | en |
dc.subject | Self-regulation | en |
dc.subject | HB Economic Theory | en |
dc.subject | T-NDAS | en |
dc.subject | BDC | en |
dc.subject | R2C | en |
dc.subject.lcc | HB | en |
dc.title | Mood-driven choices and self-regulation | en |
dc.type | Journal article | en |
dc.contributor.institution | University of St Andrews. School of Economics and Finance | en |
dc.identifier.doi | 10.1016/j.jet.2018.05.006 | |
dc.description.status | Peer reviewed | en |
dc.date.embargoedUntil | 2019-11-09 | |
dc.identifier.url | https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2850079 | en |
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