The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
An economic theory of self-control.
Abstract
The concept of self-control is incorporated in a theory of individual intertemporal choice by modeling the individual as an organization. The individual at a point in time is assumed to be both a farsighted planner and a myopic doer. The resulting conflict is seen to be fundamentally similar to the agency conflict between the owners and managers of a firm. Both individuals and firms use the same techniques to mitigate the problems which the conflicts create. This paper stresses the implications of this agency model and discusses as applications the effect of pensions on saving, saving and the timing of income flows, and individual discount rates.
Overview
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
In the citing paper
“self-control can also be hampered by situational factors, especially when the costs of indulging in temptation are blurred, and rational and slow decision making is prevented (Shefrin and Thaler, 1981; Fishbach and Zhang, 2008).”
From Motivational and Affective Factors Underlying Consumer Dropout and Transactional Success in eCommerce: An Overview (2020) · cites this paper as Shefrin and Thaler, 1981
Citations
Cites
Myopia and Inconsistency in Dynamic Utility Maximization
Strotz, R. H. (1955) · The Review of Economic Studies · doi:10.2307/2295722 · Cited by 2,834
Specious reward: A behavioral theory of impulsiveness and impulse control.
Ainslie, G. (1975) · Psychological Bulletin · doi:10.1037/h0076860 · Cited by 2,708
Cited by
Sorted by citations
Items 701–800 of 1,001
Siddiqui, R. A., May, F., & Monga, A. (2016) · Journal of Consumer Research · doi:10.1093/jcr/ucw064 · Cited by 25
Consumer confidence and economic activity: a factor augmented VAR approach
Kılıç, E., & Cankaya, S. (2016) · doi:10.1080/00036846.2015.1133902 · Cited by 25
“In other words, as also offered by Thaler and Shefrin (1981), those who want to study the consumption and saving decision must consider the bounded rationality and impatience of consumers.”
BackgroundSelf-rewards and personal motivation
Koch, A. K., Julia Nafziger, B., Suvorov, A., & van de Ven, J. (2014) · European Economic Review · doi:10.1016/j.euroecorev.2014.03.002 · Cited by 29
Ten challenges for decision neuroscience
Huettel, S. A. (2010) · Frontiers in Neuroscience · doi:10.3389/fnins.2010.00171 · Cited by 24
“Describing neural mechanisms of self-control processes Self-control is a common construct in decision research, both in interpretations of real-world behavior (Thaler and Shefrin, 1981; Baumeister et al., 2007) and in explanations of neuroscience results (Hare et al.”
BackgroundRead, D. (2007) · Marketing Theory · doi:10.1177/1470593107073845 · Cited by 25
“…inconsistency arises from the operation of two motivational systems (Hoch and Loewenstein, 1991; Loewenstein, 1996; Metcalfe and Mischel, 1999: Thaler and Shefrin, 1981).6 One is a ‘hot’ system that is emotional, impulsive and reflexive, while the other is a ‘cool’ system that is, in the…”
BackgroundNative American Obesity: An Economic Model Of The Thrifty Gene Theory
Richards, T. J., & Patterson, P. M. (2006) · American Journal of Agricultural Economics · doi:10.1111/j.1467-8276.2006.00878.x · Cited by 25
“While Schelling (1984), Thaler and Shefrin (1981), and Winston (1980) explain addiction as the reflection of consumers’ multiple selves—the buying self and the consuming self—such explanations are of little empirical value because they admit a wide range of behaviors.”
New data for understanding saving
Alessie, R., & Kapteyn, A. (2001) · Oxford Review of Economic Policy · doi:10.1093/oxrep/17.1.55 · Cited by 25
Life cycle consumption of a harmful and addictive good
Goldbaum, D. (2000) · doi:10.1111/j.1465-7295.2000.tb00029.x · Cited by 25
Singer, A. (1992) · Human Systems Management · doi:10.3233/hsm-1992-11103 · Cited by 25
Mental economics: Subjective representations of factors related to expected inflation
Svenson, O., & Nilsson, G. (1986) · doi:10.1016/0167-4870(86)90024-3 · Cited by 25
Rameli, R. S., & Marimuthu, M. (2018) · SHS Web of Conferences · doi:10.1051/shsconf/20185602005 · Cited by 25
Ali, M. A., Ammer, M. A., & Elshaer, I. (2022) · Mathematics · doi:10.3390/math10203829 · Cited by 24
“In the same way, the difficulties of self-control, i.e., a lack of self-control, can delay saving through more spending [75].”
BackgroundBeliefs about Whether Spending Implies Wealth
Kappes, H., Gladstone, J., & Hershfield, H. E. (2020) · Journal of Consumer Research · doi:10.1093/jcr/ucaa060 · Cited by 24
An empirical study on how financial literacy contributes to preparation for retirement
Yeh, T. (2020) · Journal of Pensions Economics and Finance · doi:10.1017/s1474747220000281 · Cited by 46
Hiding from the Truth: When and How Cover Enables Information Avoidance
Woolley, K., & Risen, J. L. (2020) · Journal of Consumer Research · doi:10.1093/jcr/ucaa030 · Cited by 29
Barboza, G. (2018) · Economic Notes · doi:10.1111/ecno.12106 · Cited by 24
Self-coordination in time inconsistent stochastic decision problems: A planner–doer game framework
Cui, X.-Y., Li, D., & Shi, Y. (2017) · Journal of Economic Dynamics and Control · doi:10.1016/j.jedc.2016.12.001 · Cited by 24
Origins of reform resistance and the Southern European regime
Heinemann, F., & Grigoriadis, T. (2016) · Empirica · doi:10.1007/s10663-016-9342-6 · Cited by 24
“Instead, the individual is modeled to consist of “multiple selves” (Thaler and Shefrin, 1981; Schelling, 1984).”
BackgroundOn the Psychology of Near and Far
Fujita, K., Trope, Y., & Liberman, N. (2015) · Wiley eBooks · doi:10.1002/9781118468333.ch14 · Cited by 26
Extraverted populations have lower savings rates
Hirsh, J. B. (2014) · Personality and Individual Differences · doi:10.1016/j.paid.2014.08.020 · Cited by 23
When Cutting Dividends Is Not Bad News: The Case of Optional Stock DividendsPreprint
David, T., & Ginglinger, E. (2015) · SSRN Electronic Journal · doi:10.2139/ssrn.2714915 · Cited by 24
Self-control, commitment and peer pressure: a laboratory experiment
Bonein, A., & Denant-Boèmont, L. (2015) · Experimental Economics · doi:10.1007/s10683-014-9419-7
Competition as a Savings Incentive: A Field Experiment at a Homeless Shelter
Linardi, S., & Tanaka, T. (2012) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2012.10.012 · Cited by 24
Smoking Cessation: A Model of Planned vs. Actual Behavior for Time-Inconsistent Consumers
Machado, F. S., & Sinha, R. K. (2007) · Marketing Science · doi:10.1287/mksc.1070.0298 · Cited by 24
Choice and Other Determinants of Employee Contributions to Defined Contribution Plans
Papke, L. E. (2004) · doi:10.2139/ssrn.546247 · Cited by 24
Self-control and unhealthy body weight: The role of impulsivity and restraint.
Cobb-Clark, D., Dahmann, S. C., Kamhöfer, D. A., & Schildberg-Hörisch, H. (2023) · Economics and Human Biology · doi:10.2139/ssrn.4005634 · Cited by 23
“Drawing on these psychological foundations, economists often conceptualize and model selfcontrol as the internal conflict decision makers face when confronted with competing interests (Fudenberg and Levine, 2006, 2011, 2012; Loewenstein and O’Donoghue, 2004; Shefrin and Thaler, 1988; Thaler and Shefrin, 1981).”
BackgroundSuh, E. (2021) · Ageing and Society · doi:10.1017/s0144686x21000337 · Cited by 66
Time Preferences and Their Life Outcome Correlates: Evidence from a Representative Survey
Horn, D., & Kiss, H. J. (2019) · PLoS ONE · doi:10.1371/journal.pone.0236486 · Cited by 18
“The relation between self-control problems (a manifestation of present bias) and saving decisions have been also proposed [46, 47].”
When the Damage is Done: Effects of Moral Disengagement on Sustainable Consumption
Kilian, S., & Mann, A. (2020) · Journal of Organizational Psychology · doi:10.33423/jop.v20i1.2764 · Cited by 26
“Such dilemma situations are often conceptualized as conflicts between a “want self” and a “should self” (Bazerman et al., 1998; Thaler and Shefrin, 1981).”
BackgroundDrivers of purchase behavior and post-purchase evaluation in the Singles’ Day promotion
Wang, L., Yan, Q., & Chen, W. (2019) · Journal of Consumer Marketing · doi:10.1108/jcm-08-2017-2335 · Cited by 29
Does social capital affect dividend policy?
Davaadorj, Z. (2019) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2019.02.010 · Cited by 23
Financial Knowledge and Household Saving: Evidence from the Survey of Consumer Finances
Kim, K. T., & Yuh, Y. (2018) · Family and Consumer Sciences Research Journal · doi:10.1111/fcsr.12270 · Cited by 25
Rudzińska‐Wojciechowska, J. (2017) · PLoS ONE · doi:10.1371/journal.pone.0178283 · Cited by 28
Nguyen, A., & Rosetti, J. L. (2013) · doi:10.1080/08841241.2013.860941 · Cited by 23
“Thaler and Shefrin (1981) considered the consumer as both a farsighted planner and a myopic doer.”
BackgroundThe Influence of Budgets on Consumer SpendingPreprint
Howard, R. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3772052 · Cited by 4
Rational addiction and smoking cessation: An empirical study
Keeler, T., Marciniak, M. D., & Hu, T. (1999) · doi:10.1016/s1053-5357(99)00038-4 · Cited by 23
Laziness as an explanation for the privacy paradox: a longitudinal empirical investigation
Wirth, J., Maier, C., Laumer, S., & Weitzel, T. (2021) · Internet Research · doi:10.1108/intr-10-2019-0439 · Cited by 33
A decision-neuroscientific intervention to improve cognitive recovery after stroke
Studer, B., Timm, A., Sahakian, B. J., Kalenscher, T., & Knecht, S. (2021) · Brain · doi:10.1093/brain/awab128 · Cited by 22
“These tempting alternatives are as omnipresent in inpatient rehabilitation as in everyday life, ranging from socializing with visitors to watching TV. 26 Theoretically, this self-imposed modification can take two forms: (i) adding punishment for missing targets, 27 which enhances the subjective value of the action; or…”
What Can explain catering of dividend? Environment information and investor sentiment
Bilel, H., & Kouki, M. (2021) · Journal of Economics and Finance · doi:10.1007/s12197-021-09540-0 · Cited by 25
Sofi, S. A., Mir, F., & Baba, M. (2020) · Future Business Journal · doi:10.1186/s43093-020-00036-7 · Cited by 22
“Thaler and Shefrin [11] The nature of predisposition to give importance to contiguous rewards above distal rewards forces an individual to impulsive buying”
BackgroundInfluentialWant to Stay the Market Leader in the Era of Transformative Marketing? Keep the Customers Satisfied!
Farooq, M., & Raju, V. (2019) · Global Journal of Flexible Systems Management · doi:10.1007/s40171-019-00213-w · Cited by 43
Boredom and Flow: A Counterfactual Theory of Attention-Directing Motivational StatesPreprint
Chater, N., Loewenstein, G. F., & Wojtowicz, Z. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3339123 · Cited by 21
The substitution of governance mechanisms in the evolution of family firms
van Aaken, D., Rost, K., & Seidl, D. (2017) · doi:10.1016/j.lrp.2017.01.002 · Cited by 22
Searching for new saving behavior theories
Eriksson, K., & Hermansson, C. (2014) · International Journal of Bank Marketing · doi:10.1108/ijbm-03-2014-0040 · Cited by 21
A Review Essay aboutFoundations of Neuroeconomic Analysisby Paul Glimcher
Camerer, C. F. (2013) · Journal of Economic Literature · doi:10.1257/jel.51.4.1155 · Cited by 28
ADAM SMITH AND THE MODERN SCIENCE OF ETHICS
Konow, J. (2012) · Economics and Philosophy · doi:10.1017/s0266267112000272 · Cited by 22
“1 Among the many recent works that include treatments of Smith’s moral theory, see, for example, Ashraf, Camerer, and Loewenstein (2005), Brown (1994, 2009), Cockfield, Firth and Laurent (2007), Fricke and Schütt (2005), Göçmen (2007), Griswold (1999), Haakonsson (2006), Hanley (2008), Parrish (2007), Raphael (2007),…”
BackgroundDo Good Laws Make Good Citizens? An Economic Analysis of Internalizing Legal ValuesPreprint
Cooter, R. (2000) · SSRN Electronic Journal · doi:10.2139/ssrn.229950 · Cited by 22
AN ECONOMIC ANALYSIS OF PERSONAL DEBT
Cameron, S., & Golby, D. (1990) · doi:10.1111/j.1467-8586.1990.tb00673.x · Cited by 22
Family business successions between desire and reality
Pahnke, A., Schlepphorst, S., & Schlömer-Laufen, N. (2024) · Journal of Business Venturing Insights · doi:10.1016/j.jbvi.2024.e00457 · Cited by 22
Reinforcement Learning with Non-Exponential Discounting
Schultheis, M., Rothkopf, C., & Koeppl, H. (2022) · Neural Information Processing Systems · doi:10.48550/arxiv.2209.13413 · Cited by 21
“Non-exponential discounting was considered in literature in behavioral economics, psychology, and neuroscience [4, 34, 2].”
BackgroundAddictive PlatformsPreprint
Ichihashi, S., & Kim, B.-C. (2022) · Management Sciences · doi:10.2139/ssrn.3853961 · Cited by 21
“Motivated by dual-self models, we assume that the long-run self makes the participation decision and the short-run selves allocate attention (e.g., Thaler and Shefrin, 1981; Fudenberg and Levine, 2006).”
Good credit, bad credit: The differential role of the sources of debt in life satisfaction
Białowolski, P., & Węziak‐Białowolska, D. (2021) · Journal of Consumer Affairs · doi:10.1111/joca.12388 · Cited by 33
“As posited by Thaler and Shefrin (1981), short-term debt is likely driven by a lack of self-control and impatience, which often translates into decisions that lead to negative well-being outcomes.”
BackgroundCultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing
Bu, D., Hanspal, T., Liao, Y., & Liu, Y. (2021) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109021000314 · Cited by 21
“…(2014) for a review of the literature), whereas others examined the link between noncognitive skills and financial distress, debt behavior, and poor financial decisionmaking (Thaler and Shefrin (1981), Heidhues and Kőszegi (2010), Kuhnen andMelzer (2018), and Parise and Peijnenburg (2019)).”
Forty years of behavioral economics
Truc, A. (2021) · European Journal of the History of Economic Thought · doi:10.1080/09672567.2021.1993295 · Cited by 37
“The most important articles of this time period were Thaler (1981), which explored empirical anomalies in relation to time, and Thaler and Shefrin (1981) and Loewenstein (1987), which explored alternative theories integrating the concepts of self-control and ego-depletion in economics.”
Voluntary Retirement Savings: The Case of Australia
Feng, J. (2018) · doi:10.1007/s10834-017-9536-5 · Cited by 21
Pedersen, S., Koch, A. K., & Nafziger, J. (2014) · Bulletin of Economic Research · doi:10.1111/boer.12030 · Cited by 21
Long-Term Investing: What Determines Investment Horizon?Preprint
Warren, G. J. (2014) · SSRN Electronic Journal · doi:10.2139/ssrn.2513088 · Cited by 17
Suboptimal Choices and the Need for Experienced Individual Well-Being in Economic Analysis
Hsee, C. K., Rottenstreich, Y., & Stutzer, A. (2012) · Social Science Research Network · doi:10.1504/ijhd.2012.050826 · Cited by 21
“In many instances, however, people make impulsive choices with a keen awareness of the potential consequences – they simply cannot resist the temptation (e.g., Kivetz and Simonson, 2002b; Loewenstein, 1996; O’Donoghue and Rabin, 1999; Thaler and Shefrin, 1981).”
BackgroundThree ways of linking laboratory endeavours to the realm of policies
Lee, K. S. (2011) · European Journal of the History of Economic Thought · doi:10.1080/09672567.2011.616593 · Cited by 24
“At this point, it is worth noting that, as a prelude to the call for the “new interventionism” (Loewenstein and Ubel 2008 : 1796) – whose main components are libertarian paternalism and asymmetric paternalism – representative HB program practitioners (including Thaler and Sunstein) have constructed a ‘conceptual’ sepa…”
BackgroundA basic model for multiple self
Bazin, D., & Ballet, J. (2006) · doi:10.1016/j.socec.2005.11.024 · Cited by 21
Loerwald, D., & Stemmann, A. (2016) · Springer eBooks · doi:10.1007/978-981-10-0360-8_3 · Cited by 42
Bounded Rationality and Perfect Rationality: Psychology into Economics
Schilirò, D. (2012) · Theoretical and Practical Research in Economic Fields · doi:10.2478/v10261-012-0007-0 · Cited by 24
Health Information, Treatment, and Worker Productivity
Dillon, A., Friedman, J., & Serneels, P. (2020) · Journal of the European Economic Association · doi:10.1093/jeea/jvaa024 · Cited by 20
Family firms, banks and firm value: Evidence from Malaysia
Liew, C. Y., & Devi, S. (2020) · Journal of Family Business Management · doi:10.1108/jfbm-03-2019-0015 · Cited by 20
The importance of personality characteristics and behavioral constraints for retirement saving
Piotrowska, M. (2019) · Economic Analysis and Policy · doi:10.1016/j.eap.2019.09.001 · Cited by 28
The role of self-control and regulatory foci in money-saving behaviours among children
Trzcińska, A. M., Sekścińska, K., & Maison, D. A. (2018) · Current Psychology · doi:10.1007/s12144-018-9944-1 · Cited by 23
Richard H. Thaler: A Nobel Prize for Behavioural Economics
Earl, P. E. (2018) · Review of Political Economy · doi:10.1080/09538259.2018.1513236 · Cited by 34
“The retirement saving issue has been one of Thaler’s long-standing interests (see Thaler and Shefrin 1981; Shefrin and Thaler 1988; Thaler 1992, ch. 9, 1994) because of his concern with weakness of will, loss aversion and status quo bias.”
BackgroundSocial redistribution of pain and money
Story, G. W., Vlaev, I., Metcalfe, R., Crockett, M. J., Kurth-Nelson, Z. L., Darzi, A. W., & Dolan, R. J. (2015) · Scientific Reports · doi:10.1038/srep15389 · Cited by 21
Are We One Self or Multiple Selves?: Implications for Law and Public Policy
Posner, R. (1997) · Legal Theory · doi:10.1017/s1352325200000628 · Cited by 20
On the impossibility of rational choice under incomplete information
Gans, J. (1996) · doi:10.1016/0167-2681(95)00064-x · Cited by 20
Wang, L., Ding, X., Zhang, W., & Yang, S. (2021) · IEEE Access · doi:10.1109/access.2021.3060112 · Cited by 22
“Its diagnostic criteria are similar to substance use disorders and pathological gambling [3]–[5].”
BackgroundUNDERSTANDING GEN Z INVESTMENT DECISIONS: CAPITAL MARKET LITERACY AND EMOTIONAL BIASES
Armansyah, R. F., Ardianto, H., & Rithmaya, C. (2023) · Jurnal Manajemen dan Wirausaha · doi:10.9744/jmk.25.2.105-119 · Cited by 19
“Like the accounting model, thaler and Shefrin (1981) defined mental accounting as a person's behavior in managing income and expenses.”
MethodMobile financial services in Bangladesh: Understanding the affordances
Hazra, U. T., & Priyo, A. K. K. (2020) · The Electronic Journal of Information Systems in Developing Countries · doi:10.1002/isd2.12166 · Cited by 21
“” (Thaler & Shefin, 1981, p. 398).”
BackgroundPension communication, knowledge, and behaviour
Debets, S., Prast, H. M., Rossi, M., & van Soest, A. (2020) · Journal of Pensions Economics and Finance · doi:10.1017/s1474747220000232 · Cited by 30
“In addition, people may lack the self-control to save or postpone saving decisions until it is too late (see, e.g., Thaler and Shefrin, 1981).”
BackgroundCan episodic future thinking affect food choices?
Segovia, M. S., Palma, M. A., & Nayga, R. M. (2020) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2020.06.019 · Cited by 26
Contraction with Unpacking: When Unpacking Leads to Lower Calorie Budgets
Jia, M.-L., Li, X.-P., & Krishna, A. (2020) · Journal of Consumer Research · doi:10.1093/jcr/ucz036 · Cited by 19
Public Preferences for Government Spending Priorities: Survey Evidence from Germany
Hayo, B., & Neumeier, F. (2019) · German economic review · doi:10.1111/geer.12149 · Cited by 19
Stephan, E., Shidlovski, D., & Sedikides, C. (2017) · Self and Identity · doi:10.1080/15298868.2017.1314319 · Cited by 20
“CFCs has self-regulatory implications for diverse domains of human functioning (e.g., academic achievement, financial decision-making, health behaviors) that require intertemporal valuation and self-control (Metcalfe & Mischel, 1999; Thaler & Shefrin, 1981).”
BackgroundHonesty and informal agreements
Dufwenberg, M. A., Servátka, M., & Vadovič, R. (2016) · Games and Economic Behavior · doi:10.1016/j.geb.2016.12.008 · Cited by 22
The debt brake in the eyes of the German population
Hayo, B., & Neumeier, F. (2015) · International Economics and Economic Policy · doi:10.1007/s10368-015-0323-1 · Cited by 19
SELF-CONTROL PROBLEMS AND CONSUMPTION-SAVING DECISIONS: THEORY AND EMPIRICAL EVIDENCE*
Tanaka, T., & Murooka, T. (2011) · Japanese Economic Review · doi:10.1111/j.1468-5876.2011.00549.x · Cited by 17
Rational Pensions for Irrational PeoplePreprint
Bodie, Z., & Prast, H. M. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1933693 · Cited by 19
Quasi-Hyperbolic Discounting and Social Security Systems
Schwarz, M. E., & Sheshinski, E. (2007) · European Economic Review · doi:10.1016/j.euroecorev.2006.09.004 · Cited by 19
Teaching Children to Save and Lifetime Savings: What is the Best Strategy?Preprint
Bucciol, A., & Veronesi, M. (2014) · SSRN Electronic Journal · doi:10.2139/ssrn.2275929 · Cited by 19
Behavioural Issues in Portfolio Decision Analysis
Fasolo, B., Morton, A., & von Winterfeldt, D. (2011) · International series in management science/operations research/International series in operations research & management science · doi:10.1007/978-1-4419-9943-6_7 · Cited by 19
“The Champion argument might work because of the persuasiveness of the source endorsing the allocation (Petty and Cacioppo 1981), whereas the Demonstrable Benefits argument could exploit a range of individual biases, from the preference for easy-to-evaluate attributes (Hsee 1996), to impatience and preference for immed…”
BackgroundThe decision to quit smoking: Theory and evidence
Harris, W. T., & Harris, L. (1996) · doi:10.1016/s1053-5357(96)90020-7 · Cited by 19
Temporal attention, knowledge breadth, and firm growth
Boynton, D. (2023) · Strategic Organization · doi:10.1177/14761270231196213 · Cited by 23
“…known and immediate rewards even if their potential value is lower than more distant alternatives (Ainslie, 1975; O’Donoghue and Rabin, 1999; Thaler and Shefrin, 1981) Therefore, while shorter-term orientation creates conditions that may be incongruent with the lengthy and time-consuming…”
BackgroundBiałowolski, P., Xiao, J.-J., & Węziak-Białowolska, D. (2023) · Journal of Family and Economic Issues · doi:10.1007/s10834-023-09891-2 · Cited by 18
“…& Morgan, 2005)), impatience (Laibson, 1997; Reuben et al., 2015), lack of self-control (Bertaut et al., 2009; Blake, 2022; Strömbäck et al., 2017; Thaler & Shefrin, 1981; Xiao & O’Neill, 2018; Xiao & Porto, 2019), procrastination (Blake, 2022; Thaler & Benartzi, 2004), or lack of income,…”
Using curiosity to incentivize the choice of “should” options
Polman, E., Ruttan, R. L., & Peck, J. (2022) · Organizational Behavior and Human Decision Processes · doi:10.1016/j.obhdp.2022.104192 · Cited by 18
Self control and smartphone use: An experimental study of soft commitment devices
Hoong, R. (2021) · European Economic Review · doi:10.1016/j.euroecorev.2021.103924 · Cited by 20
Lifestyle and Life Satisfaction: The Role of Delayed Gratification
Gschwandtner, A., Jewell, S., & Kambhampati, U. (2021) · Journal of Happiness Studies · doi:10.1007/s10902-021-00440-y · Cited by 18
Managerial entrenchment and payout policy: A catering effect
Gyimah, D., & Gyapong, E. (2021) · International Review of Financial Analysis · doi:10.1016/j.irfa.2020.101600 · Cited by 18
Nudging the nudger: Toward a choice architecture for regulators
Dudley, S. E., & Xie, Z. (2020) · Regulation & Governance · doi:10.1111/rego.12329 · Cited by 23
Pricing and Product Design for Vice Goods: A Strategic Analysis
Jain, S., & Li, K. J. (2018) · Marketing Science · doi:10.1287/mksc.2017.1082 · Cited by 20
Implications of Prospect Theory for the Pricing of Leisure Services
Crompton, J. L. (2016) · Leisure Sciences · doi:10.1080/01490400.2015.1107516 · Cited by 20
“Thaler (1981) conceptualized these two selves as a far-sighted “planner” and a myopic “doer”: The individual can be modeled as an organization with a planner and a series of doers, one for every time period.”
BackgroundInfluentialTemptations as Impulsivity: How far are Regret and the Allais Paradox from Shoplifting?
Khalil, E. L. (2015) · Economic Modelling · doi:10.1016/j.econmod.2015.09.016 · Cited by 22
Finlay, R., & Price, F. (2015) · doi:10.1515/bejm-2014-0077 · Cited by 18
Human Well-Being and In-Work Benefits: A Randomized Controlled TrialPreprint
Dorsett, R., & Oswald, A. J. (2014) · SSRN Electronic Journal · doi:10.2139/ssrn.2396438 · Cited by 16
“The analysis links also to issues of self-control (Thaler and Shefrin 1981).”
BackgroundWhy Do People Use Debit Cards: Evidence from Checking Accounts
Fusaro, M. (2013) · doi:10.1111/ecin.12008 · Cited by 18
Factors Affecting the Disposition Effect in Tehran Stock Market
Tehrani, R., & Gharehkoolchian, N. (2012) · International Business Research · doi:10.5539/ibr.v5n3p40 · Cited by 18
“According to Thaler and Shefrin (1981), investors tend to maintain the loser stocks to postpone the feeling of regret, while they sell winner stocks very quickly in order to experience the sense of pride resulting from making the right choice as soon as possible.”
Background
Metadata
- Authors
- Thaler, R. H., & Shefrin, H. M.
- Affiliations
- National Bureau of Economic Research (US)
- Santa Clara University (US)
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1981-04
- Volume
- 89
- Issue
- 2
- Pages
- 392-406
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W1997680043
- Cited by
- 2,203
- References
- 0
- Citations by year
- 2026: 50 · 2025: 80 · 2024: 102 · 2023: 112 · 2022: 138 · 2021: 120 · 2020: 108 · 2019: 128 · 2018: 122 · 2017: 103 · 2016: 90 · 2015: 76 · 2014: 82 · 2013: 74 · 2012: 76
- FWCI
- 99.92
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Political Economy (publishedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Literacy, Pension, Retirement Analysis
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
- Keywords
- self-control, intertemporal choice, agency theory, principal-agent problem, myopic behavior, pensions, savings
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
