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Temptation with uncertain normative preferences
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Stovall, John E. (2014) Temptation with uncertain normative preferences. Working Paper. Coventry, UK: University of Warwick, Department of Economics. Warwick economics research papers series (TWERPS), Volume 2014 (Number 1036).
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Text (Working paper)
WRAP_twerp_1036_stovall.pdf - Published Version Download (583Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
We model a decision maker who anticipates being affected by temptation but is also uncertain about what is normatively best. Our model is an extended version of Gul and Pesendorfer's (2001) where there are three time periods: in the ex-ante period the agent chooses a set of menus, in the interim period she chooses a menu from this set, and in the final period she chooses from the menu.
We posit axioms from the ex-ante perspective. Our main axiom on preference states that the agent prefers to have the option to commit in the interim period.
Our representation is a generalization of Dekel et al.'s (2009) and identifies the agent's multiple normative preferences and multiple temptations. We also
characterize the uncertain normative preference analogue to the representation in Stovall (2010). Finally, we characterize the special case where normative
preference is not uncertain. This special case allows us to uniquely identify the representations of Dekel et al. (2009) and Stovall (2010).
| Item Type: | Working or Discussion Paper (Working Paper) |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences > Economics |
| Library of Congress Subject Headings (LCSH): | Decision making, Decision making -- Mathematical models, Economics -- Mathematical models |
| Series Name: | Warwick economics research papers series (TWERPS) |
| Publisher: | University of Warwick, Department of Economics |
| Place of Publication: | Coventry, UK |
| Official Date: | 2014 |
| Volume: | Volume 2014 |
| Number: | Number 1036 |
| Number of Pages: | 23 |
| Status: | Not Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Open Access (Creative Commons) |
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