TY  - BOOK
AU  - Shefrin,H.M.
AU  - Thaler,Richard
ED  - National Bureau of Economic Research.
TI  - An Economic Theory of Self-Control
T2  - NBER working paper series
PY  - 1977///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - October 1977; Hardcopy version available to institutional subscribers
N2  - Although many economists, most notably Strotz, have discussed dynamic inconsistency and precommitment, none have dealt directly with the essence of the problem: self-control. This paper attempts to fill that gap by modeling man as an organization. The Strotz model is recast to include the control features missing in his formulation. The organizational analogy permits us to draw on the theory of agency. We thus relate the individual's control problems with those that exist in agency relationships
UR  - https://www.nber.org/papers/w0208
UR  - http://dx.doi.org/10.3386/w0208
ER  -