The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Commitment vs. Flexibility
Abstract
We study the optimal trade-off between commitment and flexibility in a consump- tion-savings model. Individuals expect to receive relevant information regarding tastes and thus they value the flexibility provided by larger choice sets. On the other hand, they also expect to suffer from temptation, with or without self-control, and thus they value the commitment afforded by smaller choice sets. The optimal commitment problem we study is to find the best subset of the individual's budget set. This problem leads to a principal-agent formulation. We find that imposing a minimum level of savings is always a feature of the solution. Necessary and sufficient conditions are derived for minimum-savings policies to completely characterize the solution. We also discuss other applications, such as the design of fiscal constitutions, the problem faced by a paternalist, and externalities. Copyright The Econometric Society 2006.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Golden eggs and hyperbolic discounting
Laibson, D. (1997) · The Quarterly Journal of Economics · doi:10.1162/003355397555253 · Cited by 6,122
Myopia and Inconsistency in Dynamic Utility Maximization
Strotz, R. H. (1955) · The Review of Economic Studies · doi:10.2307/2295722 · Cited by 2,834
Cited by
Bryan, G., Karlan, D., & Nelson, S. (2010) · Annual Review of Economics · doi:10.1146/annurev.economics.102308.124324 · Cited by 448
Parenting With Style: Altruism and Paternalism in Intergenerational Preference Transmission
Doepke, M., & Zilibotti, F. (2017) · Econometrica · doi:10.3982/ecta14634 · Cited by 348
Duflo, E. (2017) · American Economic Review · doi:10.1257/aer.p20171153 · Cited by 258
Behavioral development economics
Kremer, M., Rao, G., & Schilbach, F. (2019) · Handbook of Behavioral Economics: Applications and Foundations 1 · doi:10.1016/bs.hesbe.2018.12.002 · Cited by 188
Ericson, K. M., & Laibson, D. (2019) · Handbook of Behavioral Economics: Applications and Foundations 1 · doi:10.1016/bs.hesbe.2018.12.001 · Cited by 125
Metadata
- Authors
- Amador, M., Werning, I., & Angeletos, G.-M.
- Venue
- Econometrica
- Publisher
- The Econometric Society
- Published
- 2006-03
- Volume
- 74
- Issue
- 2
- Pages
- 365-396
- ISSN
- 0012-9682 (ISSN-L)
- 1468-0262
- OpenAlex
- W3123911340
- Cited by
- 291
- References
- 2
- FWCI
- 5.34
- Type
- journal article
- Language
- en
- Open access
- closed
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
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Commitment vs. Flexibility. https://app.cochat.ai/papers/10.1111/j.1468-0262.2006.00666.x
- The paper
- Amador, M., Werning, I., & Angeletos, G.-M. (2006). Commitment vs. Flexibility. Econometrica. https://doi.org/10.1111/j.1468-0262.2006.00666.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
