Kumru, Cagri S.; Tran, Chung - In: European Economic Review 56 (2012) 7, pp. 1422-1445
framework in which individuals have self-control problems. The presence of self-control problems induces individuals to save …-term urge for temptation and the long-term commitment for consumption smoothing result in self-control costs. In this … environment PAYG social security works as a self-control cost reducing device. In contrast, the presence of altruism induces …