Habit formation, self-deception, and self-control

Hayashi, T. and Takeoka, N. (2022) Habit formation, self-deception, and self-control. Economic Theory, 74(2), pp. 547-592. (doi: 10.1007/s00199-022-01445-1)

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Recent research in psychology suggests that successful self-control is attributed to developing adaptive habits rather than resisting temptation. However, developing good habits itself is a self-regulating process, and people often fail to accumulate good habits. This study axiomatically characterizes a dynamic decision model where an agent may form a deceptive belief about his future preference: the agent correctly anticipates his future preference by considering the effect of habits; however, he is also tempted to ignore the habit formation. Self-control must be exerted for resisting such a self-deceptive belief. Our model is flexible enough to accommodate a variety of habit formation and explains behavioral puzzles related to gym attendance, self-control fatigue, and demand for commitment.

Item Type:Articles
Glasgow Author(s) Enlighten ID:Hayashi, Professor Takashi
Authors: Hayashi, T., and Takeoka, N.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Economic Theory
ISSN (Online):1432-0479
Published Online:16 July 2022
Copyright Holders:Copyright © 2022 The Authors
First Published:First published in Economic Theory 74(2): 547-592
Publisher Policy:Reproduced in accordance with the publisher copyright policy

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