Sist oppdatert: 29.01.2010
Sammendrag for Discussion Paper 604, Self-delusion in the pursuit of happiness:
Dette arbeidet studerer i hvilken grad repeterte revisjoner av konsumplaner kan gi høyere nytte. Dersom agenter verdsetter forventinger til framtidig konsum, kan enkelte revisjoner bli sett på som en godartet from for selvbedrag. Vi betrakter en minimal generalisering av Samuelsons diskonterte nyttemodell ved å innbefatte nytte knyttet til neste periodes tidskonsum. Agenter antas å ha varierende grad av selvinnsikt. Vi ser også å ulike settinger som kan muliggjøre revisjoner.
Mer informasjon:
Discussion Papers 604 - Statistics Norway, January 2010Dag Einar Sommervoll
Self-delusion in the pursuit of happiness
Abstract:
The paper explores how repeated revisions of consumption plans increase long-run utility. If agents value present anticipations of future consumption, some revisions may be viewed as a benign form of self-delusion. We consider a minimal generalization of the Samuelson discounted utility model to allow for utility linked to next period consumption. Agents are assumed to vary with respect to their sophistication. Different environments likely to facilitate repeated revisions are also considered.Keywords: Intertemporalchoice;selfdelusion;timeinconsistency;naivete;self-control;discountedutilityfunctions;anticipation;memory
JEL classification: A12, B49,C70,D11,D60,D74,D91,E21
Acknowledgement:
Address:
Dag Einar Sommervoll, Statistics Norway, Research Department. E-mail: des@ssb.noDownload publication in fulltext:
- dp604.pdf Publication in Adobe Acrobat format
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