Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

Elliott co-PI on new study examining how early environment impacts children's health

Levy says ACA has helped increase rates of insured, but rates still lowest among poor

Bruch reveals key decision criteria in making first cuts on dating sites

More News

Highlights

U-M ranked #4 in USN&WR's top public universities

Frey's new report explores how the changing US electorate could shape the next 5 presidential elections, 2016 to 2032

U-M's Data Science Initiative offers expanded consulting services via CSCAR

Elizabeth Bruch promoted to Associate Professor

Next Brown Bag

Mon, Oct 3 at noon:
Longevity, Education, & Income, Hoyt Bleakley

Willpower and the Optimal Control of Visceral Urges

Archived Abstract of Former PSC Researcher

Ozdenoren, Emre, Stephen Salant, and Daniel Silverman. 2006. "Willpower and the Optimal Control of Visceral Urges." NBER Working Paper 12278National Bureau of Economic Research.

Common intuition and experimental psychology suggest that the ability to self-regulate, willpower, is a depletable resource. We investigate the behavior of an agent who optimally consumes a cake (or paycheck or workload) over time and who recognizes that restraining his consumption too much would exhaust his willpower and leave him unable to manage his consumption. Unlike prior models of self-control, a model with willpower depletion can explain the increasing consumption sequences observable in high frequency data (and corresponding laboratory findings), the apparent links between unrelated self-control behaviors, and the altered economic behavior following imposition of cognitive loads. At the same time, willpower depletion provides an alternative explanation for a taste for commitment, intertemporal preference reversals, and procrastination. Accounting for willpower depletion thus provides a more unified theory of time preference. It also provides an explanation for anomalous intratemporal behaviors such as low correlations between health-related activities.

Browse | Search : All Pubs | Next