This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We estimate an infinite-horizon consumption-savings model that allows, but does not require, temptation and self-control in preferences. To help identify the...

We implement optimal economic outcomes at the lowest social cost by combining reputation and contracting mechanisms to overcome the time-inconsistency problem of monetary policy associated with an inflation bias. We characterize the conditions under which the reputation force alone induces a...

This paper considers Bayesian and Nash implementation in exchange economic environments with state dependent preferences and feasible sets. We fully characterize Bayesian implementability for both diffuse and non-diffuse information structures. We show that, in exchange economic environments...